Johnson Controls price target lowered to $61 from $62 at Barclays

Barclays lowered the firm’s price target on Johnson Controls to $61 from $62 and keeps an Equal Weight rating on the shares. The analyst expects a “more mixed” earnings season than normal for the multi-industry group, with a good spread of 2024 earnings guide cuts and raises. Multi-industry stocks have pulled back on a relative basis, “so a pure defensive stance may not make sense now,” the analyst tells investors in a research note.