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UPDATE: Morgan Stanley Increases PT to $71 on Honeywell International on Revenue Headwinds

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Morgan Stanley reiterated its Overweight rating on Honeywell International (NYSE: HON) and raised its price target from $68 to $71.

Morgan Stanley commented, "With Aero A/M, Defense, UOP and Turbo running into headwinds, we see downside risks to FY12e revenue, but front loaded cost saving initiatives should help absorb volume pressure and so preserve EPS guidance. Reiterate OW and raise our 12m price target from $68 to $71."

Honeywell International closed at $39.00 on Friday.

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