Analyst Sees Future Growth for Honeywell; Increases Price Target (HON)

A Normura Securities Analyst sees a surge in EPS for technology and manufacturing company, Honeywell International Inc.(HON).

Last week, HON reported third quarter earnings, beating analysts expectations by 6 cents, even with a shortfall in expected revenue. With Honeywell’s future plans to improve, analysts at Normura are expecting a surge in EPS growth.

An anaylst from the firm, Shannon O’Callaghan noted, “management will provide a detailed look at 2013 on their December outlook call. So far it sounds like Honeywell is planning for margin expansion on low-single-digit growth. Management expects to realize $150M of incremental restructuring saving in 2013 and for the Thomas Russell acquisition to be accretive,”

Nomura Securities has a rating of a “Buy” on the company, and has raised its price target from $71 to $72. This price suggests a 12% increase over the stock’s current price of $62.86, a 24% increase over the stock’s YTD price of $54.60.

Honeywell shares were mostly flat Monday morning.

The Bottom Line
Shares of Honeywell (HON) have a 2.43% dividend yield, based on Friday’s closing stock price of $62.49. The stock has technical support in the $56-$58 price area. The shares are bumping up near all-time highs.

Honeywell International Inc.(HON) is not recommended at this time, holding a 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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here