As reported earlier, Argus analyst John Eade upgraded Johnson Controls to Buy from Hold with a price target of $45, citing the company's recent Q3 earnings beat along with the technical breakout in its stock price above the $38 resistance. The analyst notes that Johnson Controls is transforming to become a "top-quartile multi-industrial company with core growth platforms in buildings and energy storage" and expects that transition to produce more consistent sales growth and margin improvement. Eade further states that the new CEO is focusing on investment in sales after the company's history of lagging revenue growth, and "orders are already picking up".