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Johnson Controls (NYSE:JCI) International PLC stock reached a new all-time high, closing at 110.59 USD. According to InvestingPro analysis, the company, now valued at $72.7 billion, appears slightly overvalued at current levels, with technical indicators suggesting overbought conditions. This milestone underscores a significant upward trend for the company, which has seen its stock price rise by an impressive 65.96% over the past year. The company’s strong performance has been driven by robust demand in the building efficiency and energy solutions sectors, as well as strategic acquisitions and innovations in smart building technology. Investors have shown increased confidence in Johnson Controls’ growth prospects, reflected in its perfect Piotroski Score of 9 and seven analysts revising earnings estimates upward. For deeper insights into JCI’s valuation and 20+ additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Johnson Controls secured a significant $377.9 million contract with the U.S. Department of Defense for building automation systems. This contract involves procurement, installation, maintenance, and service, with oversight by the U.S. Army Corps of Engineers. Additionally, Wolfe Research has raised its price target for Johnson Controls to $130, maintaining an Outperform rating, due to anticipated earnings growth. However, Jefferies downgraded the company’s stock rating from Buy to Hold, citing its strong performance relative to the Industrial Select Sector SPDR Fund. Similarly, Oppenheimer downgraded the stock from Outperform to Perform, pointing to its valuation reaching historical highs. In corporate developments, Johnson Controls appointed Chris Scalia as executive vice president and chief human resources officer. Scalia joins from The Hershey Company (NYSE:HSY), bringing two decades of experience to the role. These updates reflect the company’s recent strategic and financial activities.
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