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Goldman Sachs Resumes Honeywell International (HON) at Buy

March 21, 2013 7:14 AM EDT Send to a Friend
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Price: $95.76 -0.26%

Rating Summary:
    13 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 38 | New: 6
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Goldman Sachs resumes coverage on Honeywell International (NYSE: HON) with a Buy rating and $88 price target Thursday, saying it's not to late to own the stock.

In its Buy rating, Goldman said it: likes the company's leadership positions in attractive end markets like commercial aerospace, process management (PM) and technology licensing for refineries and petrochemical plants; see several opportunities for HON to achieve new margin peaks; multiple expansion can occur given its late cycle leverage and trading history towards the later stages of the last cycle.

The firm said FY13/FY14 expectations are too low and their EPS estimates are +1%/+3% above the consensus.

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 $74.70 yesterday.




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