Market Overview

J.P. Morgan Reiterates Overweight Rating, $70 PT on Honeywell International

Share:
Related HON
Determining The True Value Of 3M
What Will The Auto Industry Look Like In 2025? Goldman Sachs Has The Answer
PRIMECAP Sells Stake in Biopharmaceutical Company (GuruFocus)

In a report published Wednesday, J.P. Morgan & Co. reiterated its Overweight rating and $70.00 price target on Honeywell International (NYSE: HON).

J.P. Morgan noted, “We continue to see HON's initial 2013 outlook as an “in line” event, with limited change relative to our initial take from Monday. HON continues to deliver the margin improvement and disciplined M&A we would expect, with better FCF in 2013 freeing up more dry powder into next year. The main debate will be around organic growth: HON was able to put up EPS in line with the consensus despite only a 1-3% growth outlook, but with this revenue outlook lower relative to some peers and, perhaps, expectations. With details from the call, however, we do not see any differentiating headwinds with some particular conservatism at ACS (guidance +0-2% organic). In short, the thesis remains intact with 10% EPS growth for 2013 better than peers' despite a conservative organic outlook.”

Honeywell International closed on Tuesday at $61.97.

Latest Ratings for HON

DateFirmActionFromTo
Jul 2015BarclaysMaintainsOverweight
Jul 2015BarclaysMaintainsOverweight
Jul 2015RBC CapitalMaintainsOutperform

View More Analyst Ratings for HON
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Reiteration Analyst Ratings

 

Related Articles (HON)

View Comments and Join the Discussion!

Get Benzinga's Newsletters