Sterne Agee Reiterates Buy Rating, $69 PT on Honeywell International

In a report published Monday, Sterne Agee Group reiterated its Buy rating and $69.00 price target on Honeywell International (NYSE: HON).

Sterne Agee noted, “HON released its 2013 guidance with EPS expected to be in a range of $4.75-$4.95 (up 6%-11%), in-line with our estimate and the consensus at $4.95. HON's proven ability to grow in key markets and leverage margin gains means achieving the upper-end of the EPS range is likely with potential for upside given management's track record. HON also announced today a deal to acquire Intermec (IN, $7.98, NR) for $600 million. HON remains a beat and raise story for 2013.”

Honeywell International closed on Friday at $61.97.

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