Honeywell’s Price Target Upped at Credit Suisse (HON)

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Diversified technology and manufacturing company Honeywell International Inc. ( HON ) saw its price target boosted on Monday by analysts at Credit Suisse.

The firm said it now sees shares of HON reaching $50, up from a prior $49 target. That new target represents a potential 15% upside to the stock's Friday closing price of $43.50.

Credit Suisse cited strong top line growth for the upgrade, and maintained its "Neutral" rating.

Honeywell shares fell 46 cents, or -1.1%, in premarket trading Monday.

The Bottom Line
We had recently removed shares of HON from our recommended list back on May 19, when the stock was trading at $44.72. The company has a 2.70% dividend yield, based on Friday's closing stock price of $43.50. The stock has technical support in the $38-$40 price area. If the shares can firm up, we see overhead resistance around the $46-$47 price levels. We would remain on the sidelines for now.

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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