Baird said it sees a "visible pathway" to mid-teens earnings growth in the 2016 fourth quarter, according to TheFly.
Catalysts include Johnson Controls' investors day, synergy upside, free cash flow deployment and valuation re-rating, the firm added.
Johnson Controls is a Milwaukee-based company that produces automotive batteries and electronics, as well as HVAC equipment for buildings.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Johnson Controls as a Hold with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, the team also finds weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: JCI