FBR Capital Maintains a 'Market Perform' on Honeywell International (HON); Upbeat Analyst Meeting Suggests Increased Confidence in Long-Term Growth Opportunities
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Price: $194.92 -0.63%
Rating Summary:
15 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
15 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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FBR Capital maintains a 'Market Perform' on Honeywell International (NYSE: HON), PT
FBR analyst says, "A key highlight out of Honeywell’s analyst meeting in our view was the distinctly more positive tone across businesses with CEO Dave Cote reiterating the company’s goal of 6%–8% revenues and 60 bps annual margin improvement through 2014. This confidence in the company’s long-term outlook was supported by impressive details on initiatives in new products and technology, emerging markets, and higher productivity, by an array of presenters including heads of the company's four segments. Key growth themes across Honeywell businesses include energy ficiency, safety & security, and globalization, where China and India are expected to represent 9% of company sales by 2014. Management reaffirmed its 2011 EPS guidance of $3.60–$3.80 with better performance at Specialty Materials and Transportation expected to offset modestly weaker outlook in Defense...However, we see greater upside potential in Outperform-rated Cooper (NYSE: CBE), Illinois Tool Works (NYSE: ITW), 3M (NYSE: MMM), and Tyco (NYSE: TYC)."
For more ratings news on Honeywell International click here and for the rating history of Honeywell International click here.
Shares of Honeywell International closed at $56.71 yesterday.
FBR analyst says, "A key highlight out of Honeywell’s analyst meeting in our view was the distinctly more positive tone across businesses with CEO Dave Cote reiterating the company’s goal of 6%–8% revenues and 60 bps annual margin improvement through 2014. This confidence in the company’s long-term outlook was supported by impressive details on initiatives in new products and technology, emerging markets, and higher productivity, by an array of presenters including heads of the company's four segments. Key growth themes across Honeywell businesses include energy ficiency, safety & security, and globalization, where China and India are expected to represent 9% of company sales by 2014. Management reaffirmed its 2011 EPS guidance of $3.60–$3.80 with better performance at Specialty Materials and Transportation expected to offset modestly weaker outlook in Defense...However, we see greater upside potential in Outperform-rated Cooper (NYSE: CBE), Illinois Tool Works (NYSE: ITW), 3M (NYSE: MMM), and Tyco (NYSE: TYC)."
For more ratings news on Honeywell International click here and for the rating history of Honeywell International click here.
Shares of Honeywell International closed at $56.71 yesterday.
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