Johnson Controls (JCI) PT Raised to $90 at Jefferies

Jefferies analyst Stephen Volkmann raised the price target on Johnson Controls (NYSE: JCI) to $90.00 (from $85.00) while maintaining a Buy rating.

The analyst commented, "JCI reported 4Q21 results that were essentially in line with Street expectations for the quarter and provided FY2022 guidance that bracketed consensus. The results were driven by strong end-market dynamics in both retrofit activity and non-resi new construction, which should drive demand into 2022. Despite record raw material
inflation, the company was price/cost positive during the quarter and expects this to continue into FY2022."

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