Johnson Controls (NYSE:JCI) Global Products Sales declined from around $8.6 billion in 2019 to about $8 billion in 2020. Trefis expects the metric to recover to about $8.6 billion in 2021 and to around $9.2 billion in 2022.
While sales decline in 2020 due to the impact of the Covid-19 pandemic, we expect longer-term growth to be driven by the company’s strong systems integrations capabilities and partnerships and distribution channels in major emerging markets.
We value JCI stock at about $83 per share, about 7% ahead of the current market price.
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