Johnson Controls May Be Heading Toward A 'New Strategic Direction,' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
Johnson Controls International (NYSE:JCI) is expected to announce a new CEO soon, which could signal a strategic shift. BofA Securities upgraded JCI to 'Buy' with a price target of $80, citing potential growth in data center revenues and upcoming divestitures.
September 10, 2024 | 3:04 pm
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Johnson Controls International is poised for a strategic shift with a new CEO announcement expected soon. BofA Securities upgraded the stock to 'Buy' with a price target of $80, highlighting growth in data center revenues and divestitures.
The upgrade by BofA Securities and the increase in price target to $80 suggest positive sentiment. The potential new CEO and strategic direction, along with growth in data center revenues, are seen as catalysts for the stock. The divestitures will further focus the company on profitable segments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100