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Johnson Controls International plc (NYSE:JCI) shares soared to an all-time high of $104.03, marking a significant milestone for the company’s stock performance. According to InvestingPro data, the company boasts a perfect Piotroski Score of 9, indicating exceptional financial strength. This peak represents not just a 52-week high but the highest price level the stock has ever reached. Over the past year, Johnson Controls has witnessed an impressive rally, with the stock price climbing nearly 49%, supported by a strong 36% gross profit margin and consistent dividend payments maintained for 55 consecutive years. This surge reflects investor confidence in the company’s growth prospects and its strategic initiatives, which have been well-received by the market. The achievement of this all-time high is a testament to Johnson Controls’ robust financial health and its strong position within the industry. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading above its Fair Value, with 10 analysts recently revising their earnings expectations upward for the upcoming period.
In other recent news, Johnson Controls reported better-than-expected earnings for the second quarter, with adjusted earnings per share of $0.82, surpassing analyst expectations of $0.79. Revenue increased by 1% year-over-year to $5.68 billion, exceeding the consensus estimate of $5.64 billion. The company also raised its full-year earnings per share outlook to approximately $3.60, above Wall Street’s consensus of $3.56. Following these results, Deutsche Bank (ETR:DBKGn) upgraded Johnson Controls’ stock rating from Hold to Buy, raising the price target from $101 to $112, citing optimism about operational improvements under new CEO Joakim Weidemanis. Oppenheimer also adjusted its price target for the company, increasing it to $96 from $90, while maintaining an Outperform rating after the company exceeded revenue and earnings expectations. The company has transitioned to a new segment structure, consolidating from four to three segments to streamline operations and accelerate growth. Johnson Controls continues to see strong order growth, with a 5% organic increase year-over-year and a Building Solutions backlog of $14 billion. The company is experiencing sustained demand for its building efficiency and sustainability solutions, which are expected to drive future growth.
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