UPDATE: Citi Raises Price Target on Honeywell International to $55

According to Citi, Honeywell International APD price target is raised to $55. Citi said that ACS led the quarter with a welcomed improvement in operating margins bolstered by strengthening aerospace aftermarket, helping fuel a 5.8% stock reaction. “We are increasing our 2011/2012 EPS by 15c and our target price by $7 to $55, which leaves solid but not compelling 10% upside.” Honeywell International closed on Friday at $51.28.