Johnson Controls price target raised to $93 from $86 at RBC Capital

RBC Capital raised the firm’s price target on Johnson Controls (JCI) to $93 from $86 and keeps a Sector Perform rating on the shares. The company reported a solid 9% operating beat against the firm’s estimate and raised its 2025 guidance, more than flowing through the headline beat, with the “big announcement” also stating that a 13-year Danaher (DHR) veteran Joakim Wedemanis will take the helm as CEO, the analyst tells investors in a research note. Other positives in the quarter include continued orders momentum and backlog of $13.2B, with solid earnings visibility through 2025, the firm added.