Diversified manufacturer Honeywell International Inc. (
) on Monday saw its price target raised by analysts at FBR Capital
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
The Bottom Line
Shares of Honeywell (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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