Honeywell (HON) Set for Double-Digit EPS Growth

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Last week Honeywell (NYSE: HON) reported Q3 EPS of that was 6 cents above consensus despite top-line revenue that was shy of estimates. Going forward, Honeywell management has plans for improvements that analysts at Nomura think could drive double-digit EPS growth.

"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," said analyst Shannon O'Callaghan.

"We think that all nets to a framework that has the potential for double-digit EPS growth," added O'Callaghan.

Nomura Securities has a Buy rating on Honeywell International (NYSE: HON) with a revised price target of $71.00 (from $72.00).

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 $62.49 yesterday, with a 52 week range of $47.85-$63.48.

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