Diversified manufacturer Honeywell International Inc. ( HON ) on Thursday caught some positive commentary from analysts at Morgan Stanley.
The firm initiated coverage on HOM with an "Overweight" rating and $62 price target, suggesting a 12% upside to the stock's Wednesday closing price of $55.45.
Morgan Stanley noted it believes Honeywell is the best bet for investors looking to gain exposure to the uptrend in energy efficiency.
Honeywell shares were mostly flat in early trading Thursday.
The Bottom Line
Shares of Honeywell ( HON ) have a 2.68% dividend yield, based on last night's closing stock price of $55.53. The stock has technical support in the $50-$52 price area. The stock is trading not too far from all-time highs of $58-$62 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.
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