October 12, 2012 at 09:02 AM EDT
Honeywell Upgraded by Deutsche Bank to “Buy”; Sees Industrial Expansion (HON)

Technology and manufacturing company Honeywell International Inc. (HON) was upgraded by Deutsche Bank to a “Buy” on Friday.

The firm lifted its rating on HON to “Buy” with a price target of $72. This target suggests a 16.3% increase from the stock’s closing price of $60.29 on Thursday. Deutsche Bank predicts the industrial industry will go into its second half of an expansion cycle in coming quarters.

Honeywell shares were mostly flat during premarket trading Friday. The stock is up nearly 11% YTD.

The Bottom Line
Shares of Honeywell (HON) have a 2.47% dividend yield, based on last night’s closing stock price of $60.29. The stock has technical support in the $56-$57 price area. The stock is trading near all-time highs of $63 a share.

Honeywell International Inc. (HON) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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