Morgan Stanley raises Johnson Controls PT on sustained demand
BUZZ-Morgan Stanley raises Johnson Controls PT on sustained demand ** Morgan Stanley raises price target on U.S. industrial supplier Johnson Controls International JCI.N to $175 from $140; reiterates "overweight" rating
** New PT represents a 18% premium to stock's last close
** Brokerage says JCI is positioned to benefit from long-term demand trends as data centers, electrification, AI infrastructure and smart buildings drive greater need for energy-efficient heating, cooling and building management systems
** Says JCI’s higher long-term growth target and strong margins point to double-digit earnings growth through decade-end; the company now expects high-single-digit organic sales growth versus the earlier mid-single-digit outlook
** Median PT of 23 brokerages covering the stock is $155 - data compiled by LSEG
** As of last close, stock up ~24% YTD
(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))