Benzinga | Sep 9, 2021 05:02PM EDT

Johnson Controls Price Target Raised At RBC Capital, Morgan Stanley And Deutsche Bank After Investor Day

* Johnson Controls International PLC (NYSE:JCI) sees positive analyst actions after investor day, where it reaffirmed FY21 guidance and announced three-year financial targets.

* RBC Capital analyst Deane Dray raised the price target to $76 (implying an 0.46% upside) from $70 and maintained a Sector Perform rating on the shares.

* Dray states that the company's analyst meeting was "highly polished" as it showcased its new digital and smart offerings centered in the "Healthy Buildings" megatrend and states that the "good prospects" for its bolt-on deals also represent potential upside.

* Morgan Stanley analyst Joshua Pokrzywinski raised the price target to $87 (implying 15% upside) from $85 and maintained an Overweight rating on the shares.

* Pokrzywinski mentions that the analyst day "served as a multi-faceted reminder that the commercial upgrade supercycle is now" as well as a "comprehensive message on the future of building modernization and decarbonization." He views $95-$100 per share as "a very plausible bull case" for Johnson Controls shares given where Carrier Global Corp (NYSE:CARR) trades.

* Deutsche Bank analyst Nicole DeBlase raised the price target $82 (implying an 8.39% upside) from $78 and maintained a Hold rating on the shares.

* Price Action: JCI shares closed higher by 1.24% at $75.63 on Thursday.