Johnson Controls (JCI) Earns Outperform Rating from Bernstein on Data Center Demand

Johnson Controls International plc (NYSE:JCI) is included among Billionaire Mario Gabelli’s Top 12 Dividend Stocks.

On June 10, Bernstein initiated coverage of Johnson Controls International plc (NYSE:JCI) with an Outperform rating and a $176 price target. The firm said data centers represent a “strong tailwind” for Johnson Controls, with growth largely driven by its chiller business. Bernstein also noted that the company has an “easy capital unlock available” through the sale or spin-off of parts of its fire and security business. In its research note, the analyst said the firm is “comfortable” with Johnson Controls’ ability to execute its strategy over the next 18 months.

Earlier, on June 3, Wolfe Research raised its price recommendation on JCI to $171 from $165. It reiterated an Outperform rating on the shares. According to the firm, the investor event held that week highlighted the broad range of changes underway at the company and “showed us that the lean transformation is real.”

Johnson Controls International plc (NYSE:JCI) is a global technology company focused on energy efficiency, decarbonization, thermal management, and mission-critical performance.

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