HVAC play Johnson Controls is up 42% this year and JPMorgan says there’s more to go

Johnson Controls logo is above a manufacturing plant

Sean Gallup | Getty Images

HVAC stock Johnson Controls should outperform in the coming months as the company continues to close the historic gap between itself and competitors, according to JPMorgan.

Shares of the company, which is based in Ireland and has high exposure to commercial building clients, is up 42% to date.

Analyst Stephen Tusa increased the stock from neutral to overweight and raised its price target by 50%. He said in a letter to customers on Tuesday that Johnson Controls appears poised to reverse its historic battle across the board.

Comments are closed.