Drexel Hamilton maintains a 'Buy' on Honeywell (HON); Q2 Preview

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Drexel Hamilton maintains a 'Buy' on Honeywell International (NYSE: HON) price target of $65.00.

Analyst, Richard Whittington, said, "Global macroeconomics and demographics sustain gains at applied technology powerhouse HON despite presently languid economic growth...Harnessing the world’s most advanced society’s scientific and engineering know-how, earnings gains should continue the next several years."

"Our $1.14 per share Q2 2012 estimate two cents above consensus and up 14.0% year-year is predicated upon 5.0% year-year revenue growth...A slightly slower 4.3% revenue gain in Q3 should comprise the cyclical low water market, with faster year-year gains through 2013 and 2014."

For an analyst ratings summary and ratings history on Honeywell International click here. For more ratings news on Honeywell International click here.

Shares of Honeywell International closed at $55.59 yesterday, with a 52 week range of $41.22-$62.00.

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