Johnson Controls Gets Price Target Hikes From Analysts Following Upbeat Q2 Results

Johnson Controls International PLC JCI reported better-than-expected Q2 financial results.

Johnson Controls reported sales growth of 10% year-on-year to $6.69 billion, beating the consensus of $6.51 billion. Adjusted EPS of $0.75 beat the analyst consensus of $0.73.

Johnson sees Q3 adjusted EPS of $1.01-$1.03 (Street view $1.02); Organic revenue growth of about 10% year-over-year.

Johnson Controls shares rose 6.1% to close at $62.09 on Friday and added 0.6% in today’s pre-market trading session.

These analysts made changes to their price targets on Johnson Controls after the company released Q2 results.

• JP Morgan raised the price target on Johnson Controls from $ $70 to $72. JP Morgan analyst Stephen Tusa maintained an Overweight rating on the stock.
• Wells Fargo increased Johnson Controls price target from $65 to $69. Wells Fargo analyst Joe O'Dea maintained an Overweight rating on the stock.
• Morgan Stanley boosted Johnson Controls price target from $69 to $72. Morgan Stanley analyst Joshua Pokrzywinski maintained the stock with an Overweight rating.

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