Reported 4 months ago
Elliott Investment Management's $1 billion stake in Johnson Controls resulted in a stock surge, representing investor confidence in the company's management. Despite recent underperformance and management concerns like missed targets and supply chain issues, Johnson Controls is looking at mid-single-digit income growth in 2024. With pressure to meet expectations, Johnson Controls stock remains attractive to investors, especially with potential activist investor involvement and potential future growth, although challenges persist.
Source: YAHOO