UPDATE: Stifel Nicolaus Raises PT to $80 on Honeywell International on Solid Margin Execution
Stifel Nicolaus maintained Honeywell International (NYSE: HON) with a Buy rating and raised the price target from $74.00 to $80.00.
Stifel Nicolaus commented, "Honeywell's 2013 Investor Conference showed the company's solid margin execution and realizable improvement potential across a number of businesses, in our view, despite continued uncertain macro environment. While no updated guidance was provided, we are tweaking our EPS estimates slightly higher and raising our 12-month target price to $80 on our increased confidence in management's 2014 margin targets with the recent progress of HOS, productivity initiatives, as well as with new product strategy pointing to further upside beyond 2014."
Honeywell International closed at $71.27 on Wednesday.
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