Why Shares in Johnson Controls Soared in October
Shares in building technology and heating, ventilation, and air conditioning (HVAC) company Johnson Controls (NYSE: JCI) rose by 17.5% in October, according to data provided by S&P Global Market Intelligence.
The move comes as part of a general rise in the S&P 500 index in the month (up 8%) and a growing realization among investors that Johnson Controls is heading for a strong year. That optimism is built on the company's exposure to positive secular (noneconomically aligned) growth trends.
These trends include increasing awareness of the need to create healthy, clean buildings in the wake of the COVID-19 pandemic. In addition, Johnson Controls' solutions help building owners increase building efficiency and meet their net-zero carbon emissions goals.
Source Fool.com
