Bank of America: Robust Margin Outlook for Honeywell International

In a research report published earlier today by Bank of America, Honeywell International Inc. HON is expected to see a decline in developed country personnel while the pace of emerging markets build-out too slow. According to Bank of America, “While Honeywell did not officially update its 2014 margin targets at its recent analyst meeting, we believe that internally the company is looking at its profit trajectory through to 2017. In turn, this suggests a relatively high degree of management confidence toward achieving its 2014 targets even though the company needs to continue to execute on reducing its overhead costs, in our opinion.” Bank of America maintains its Buy rating and $70 PT on Honeywell, which closed yesterday at $60.37.