Johnson Controls (JCI) Stock Outlook Strengthens After JPMorgan Visit and Reaffirmed Rating

Johnson Controls International (NYSE:JCI) ranks among the best-performing European stocks to invest in. JPMorgan reiterated its Overweight rating and $105 price target for Johnson Controls International (NYSE:JCI) on August 27 after visiting the company’s headquarters. The bank stated that it felt more confident in Johnson Controls’ ability to grow its margins, which it considers to be largely unaffected by the stable volume environment at the moment.

JPMorgan highlighted that the new CEO and management team have been indicating that steps have already been taken as part of a multi-year productivity and process optimization program. The firm emphasized visibility in many operational areas, including functional overhead, manufacturing, and service operations.

According to JPMorgan, there was “perhaps a bit less opportunity” in installation activity than predicted, but these improvements are expected to more than make up for it.

Johnson Controls International (NYSE:JCI) designs, produces, commissions, and retrofits building products and systems in the United States, Europe, Asia Pacific, and beyond.

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Disclosure: None. This article is originally published at Insider Monkey.