UPDATE: Bank of America Reiterates Buy Rating, Raises PT on Honeywell International

In a report published Friday, Bank of America reiterated its Buy rating on Honeywell International (NYSE: HON), and raised its price target from $71.00 to $77.00.Bank of America noted, “Honeywell management has accomplished much in only a few years, including selling weak businesses, reinvesting in product development, and expanding the global footprint. Honeywell is positioned to meaningfully expand its margins and cash flow, in our view. Favorable tailwinds include aerospace aftermarket growth, global petroleum refining cycle, building manager demand for increasing energy efficiency and the rising penetration of turbochargers.”Honeywell International closed on Thursday at $68.24.