Johnson Controls price target raised to $62 from $59 at Barclays

Barclays analyst Julian Mitchell raised the firm’s price target on Johnson Controls to $62 from $59 and keeps an Equal Weight rating on the shares. While the company’s end-state portfolio should be simpler, it is not clear that the divestment program itself will drive the stock higher, the analyst tells investors in a research note. The firm says the remaining company “appears to be quite expensive, based on the current share price.”