In a note out Wednesday morning, analyst Howard Rubel at Jefferies raised his price target on Honeywell International Inc. HON from $105 to $115 while maintaining a Buy rating following the company's 2015 outlook call.
The target increase is based on the following:
"The EPS guidance range of $5.95-$6.15 generates 8-12% growth vs. our 2014 EPS estimate of $5.55, and compares to our estimate of $6.10. Organic revenue growth is estimated to be in the 3-4% range, but the adverse effect of currency translation and other items trims the advance to 2.5-2.75%. Margins on a reported basis,expand by about 120 bps, driven by restructuring taken in 2014 and the phasing of OEM incentives for Aerospace."
Shares of Honeywell closed Tuesday at $100.72, implying a 14.18 percent upside.
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