RBC Capital analyst Deane Dray raised the firm’s price target on Johnson Controls (JCI) to $98 from $82 and keeps a Sector Perform rating on the shares after the company reported a modest 4c operating beat and raised its guidance. Only eight weeks into the new role, CEO Joakim Weidemanis is taking a clear-eyed look at Johnson Controls, emphasizing lean execution, customer focus, and a methodical bottom-up strategic review to optimize earnings growth and free cash flow, the analyst tells investors in a research note.
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Read More on JCI:
- Johnson Controls upgraded to Buy from Hold at Vertical Research
- Johnson Controls price target raised to $96 from $90 at Oppenheimer
- Johnson Controls price target raised to $90 from $84 at Baird
- Johnson Controls price target raised to $100 from $82 at Wells Fargo
- Strategic Initiatives and Financial Improvements Drive Buy Rating for Johnson Controls