Honeywell’s Target, Estimates Boosted at Morgan Stanley (HON)

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Diversified industrial manufacturer Honeywell International Inc. ( HON ) on Monday saw its price target and earnings estimates raised by analysts at Morgan Stanley.

The firm said it boosted its estimates for HON through 2012, noting the company is leveraged to late-cycle growth. Morgan Stanley also maintained its "Overweight" rating while lifting its price target for HON to $74, which implies a massive 29% upside to the stock's Friday closing price of $57.39.

Honeywell shares rose $1.05, or +1.8%, in premarket trading Monday.


The Bottom Line
Shares of Honeywell ( HON ) have a 2.32% dividend yield, based on Friday's closing stock price of $57.39. The stock has technical support in the $50-$55 price area. If the shares can firm up, we see overhead resistance around the all-time high levels of $60-$63 a share.

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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