Johnson Controls: More Orders, Higher Output, Better Margins
Johnson Controls is rated Buy with a raised target price of $168, reflecting a 12.2% upside driven by robust backlog and production gains. JCI's $21 billion backlog and strong data center demand underpin expectations for above-market revenue and operating profit growth over the next two years. Management's operational improvements and disciplined cost control are driving operating profit faster than revenue, supporting margin expansion through FY2030.