Oppenheimer raised the firm’s price target on Johnson Controls to $79 from $76 and keeps an Outperform rating on the shares. The firm notes shares traded up Wednesday following above-consensus Q3 adjusted EPS and Q4 guidance. With Johnson Controls evolving into a technology-led solutions and services platform, multiple catalysts to drive the transformation should materialize over coming quarters, including a leadership succession and plans for improving profitability following business exits, Oppenheimer adds.
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