Honeywell’s Price Target Boosted at FBR Capital (HON)

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Diversified manufacturer Honeywell International Inc. ( HON ) on Monday saw its price target raised by analysts at FBR Capital Markets.

The firm maintained its "Market Perform" rating on HON, but boosted its price target to $57. That new target suggests a 15% upside to the stock's Friday closing price of $49.78.

An FBR analyst commented, "Our key takeaway from the well-attended Honeywell Aerospace analyst meeting was that despite a flat to modestly declining revenue outlook for Defense & Space (D&S, 50% of segment revenues), improving trends in Commercial OE and aftermarket should drive low- to mid-single-digit organic growth for the segment in 2011. Key drivers of this positive outlook include new products (synthetic vision, next-gen flight management systems, etc.) and upgrades that are helping drive aftermarket business with business jets and airlines, a focus on winning content on the "right/successful" customer aircraft/platforms, and increasing international sales where Honeywell, for example, is well ahead of competition with significant wins on the China C919."

Honeywell shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Honeywell ( HON ) have a 2.43% dividend yield, based on Friday's closing stock price of $49.78. The stock has technical support in the $44-$46 price area. If the shares can firm up, we see overhead resistance around the $51-$54 price levels.

Honeywell International Inc. ( HON ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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