On June 2, Johnson Controls rose 6.08% in regular trading, trading at $141.985/share, with trading volume of $189 million. The rally was driven by multiple Wall Street investment banks collectively raising their target prices on the stock.

Goldman Sachs raised its price target on Johnson Controls from $169 to $178, maintaining a Buy rating. UBS Securities lifted its target from $170 to $180, citing encouraging early signs from the company's new business model focused on productivity improvements. UBS noted the company is on track to grow revenue at a large facility from $250 million to $1 billion over two years without additional labor or capital requirements. RBC Capital highlighted stronger long-term prospects, noting management raised its organic revenue growth outlook to high single digits, driven by data center demand expected to grow from approximately 12% of revenue to roughly one-third within five years amid AI infrastructure expansion. According to FactSet, the average analyst price target stands at $153.47 with an overweight consensus rating.

Within the Building Products sector, the overall performance was strong. Among peers, Modine Manufacturing rose 5.56%, Lennox rose 4.75%, Carrier Global rose 4.15%, AAON rose 3.47%, and Trane Technologies rose 1.71%.

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