Johnson Controls price target lowered to $92 from $95 at Wells Fargo

Wells Fargo analyst Joesph O’Dea lowered the firm’s price target on Johnson Controls (JCI) to $92 from $95 and keeps an Overweight rating on the shares. The firm thinks initial 2025 guidance in the space will drive negative revisions in consensus estimates. Recent dollar strength is a large driver of the headwind, Wells adds, noting that it believes currency pressure is largely appreciated, so initial guidance ranges below consensus shouldn’t come as a big surprise.