BofA raised the firm’s price target on Johnson Controls to $95 from $80 and keeps a Buy rating on the shares as the firm moved out the basis for its price target by a year. The higher price target reflects peer re-rating and Johnson Controls’ exposure to the fast growing data center market and the firm’s Buy reflects positive end market exposure and valuation, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JCI:
- Alphabet, Meta initiated: Wall Street’s top analyst calls
- ‘Choose Wisely’: Morgan Stanley Says Buy These Defensive, Quality Stocks
- Johnson Controls upgraded to Buy at BofA on ‘best-in-class’ data center assets
- Johnson Controls upgraded to Buy from Neutral at BofA
- Johnson Controls initiated with an Overweight at Morgan Stanley