Goldman Sachs Positive on Johnson Controls International (JCI) Following Fiscal Q4 Results

Johnson Controls International plc (NYSE:JCI) is one of the best industrial stocks to buy. On November 7, Goldman Sachs maintained a Buy rating on JCI following its fiscal Q4 earnings topping estimates, as per the Fly’s report. The firm lifted the price target on the stock from $124 to $142. Analyst Joe Ritchie conveyed to investors that segment EBITDA came in 3% higher than market consensus, due to better-than-anticipated growth in all locations. Goldman added that the company’s guidance looks attainable given the momentum in the Applied HVAC space.

Goldman Sachs Positive on Johnson Controls International (JCI) Following Fiscal Q4 Results

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On November 5, Johnson Controls reported its fiscal Q4 results. The GAAP EPS came in at $0.42, with Q4 sales growing 3% to $6.4 billion, with JCI reporting robust double-digit growth in Systems and high single-digit growth in Service segments. During the quarter, the company shelled out $243 million in dividends and bought back an aggregate of $5 billion in ordinary stock under an accelerated share repurchase initiative.

Johnson Controls International plc (NYSE:JCI) designs, distributes, installs, and maintains HVAC systems, building controls, fire and security systems, and refrigeration units. Its services also include inspections, routine maintenance, repairs, and energy-efficient and smart building solutions.

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