Wells Fargo analyst Joesph O’Dea lowered the firm’s price target on Johnson Controls to $69 from $74 and keeps an Overweight rating on the shares. The firm notes that while Q1 diminished upside EPS risk this year, it views the stock reaction as overdone. And leading organic growth and solid margin expansion remain attractive through the rest of 2023, Wells adds.
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Published first on TheFly
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