Honeywell International (HON) PT Raised to $230 at Jefferies Seeing $11 in '23 EPS

Jefferies analyst Sheila Kahyaoglu raised the price target on Honeywell International (NASDAQ: HON) to $230.00 (from $225.00) on new '21 EPS of $8.05, up from from $7.90 reflecting the Q2 beat and HBT/PMT recovery.

The analyst reiterated a Hold rating, stating "2021 EPS advances 13% on a 6% rev increase. HON trades at ~18x 2022 EV/EBITDA, or a 26% premium to mkt (vs a 16% historical premium), capturing the pace of improvement. The opportunity is EPS upside from new products (70c) and cap deployment, w/ potential for '23 EPS of $11.00 assuming 100% of cash deployed".

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