Industrial manufacturer Honeywell International Inc. (
) on Monday caught some continued bullish support from analysts at
The firm reiterated its "Overweight" rating on HON and lifted
its price target from $68 to $71. That new target suggests a 29%
upside to the stock's Friday closing price of $54.89.
A Morgan Stanley analyst commented, "We see organic growth
decelerate to 4% from 6% in 1Q12. Assuming 2ppts FX headwind ($1.25
Euro), we move to the low-end of 4-6% revenue growth guidance. Our
model calls for a Q/Q slowdown in all segments (Aero A/M, UOP
comps, European auto prodn.) ex-ACS. While mgmt noted sequential
improvement in ACS short-cycle products towards end of March, we
conservatively model Products at +2% (vs. +3% in 1Q12), offset by
modestly better Solutions (+3%)."
Honeywell shares fell 45 cents, or -0.8%, in morning trading
The Bottom Line
Shares of Honeywell (
) have a 2.71% dividend yield, based on Friday's closing stock
price of $54.89.The stock has technical support in the $49-$50
price area. If the shares can firm up, we see overhead resistance
around the $56-$58 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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