Johnson Controls price target raised to $76 from $68 at Oppenheimer

Oppenheimer analyst Noah Kaye raised the firm’s price target on Johnson Controls to $76 from $68 and keeps an Outperform rating on the shares. After meeting with CFO Olivier Leonetti at the company’s headquarters for an investor discussion that highlighted several potentially underappreciated elements of the story, Kaye tells investors in a research note that Johnson Controls is executing significant organizational change that could translate to sustainable outperformance on organic growth and incrementals.