Johnson Controls International (JCI) is in the early stages of deploying its new business model focused on improving productivity and early indications are highly encouraging, UBS Securities said in a note Monday.

The company is on track to increase revenue at a large facility to $1 billion from $250 million over the next two years without higher labor, footprint, or capital requirement, according to the note.

The company has also improved on time delivery, reduced client lead times, and decreased floor space and inventory, analysts wrote.

The brokerage said it now expects 2026 earnings per share of $4.96, compared with $4.87 previously, and also anticipates sales growth from business system initiatives.

UBS Securities boosted its price target on the stock to $180 per share from $170, while reiterating its buy rating.

Shares of Johnson Controls were up more than 5% in Tuesday trading.

Price: 141.28, Change: +7.37, Percent Change: +5.50