Nomura Securities Maintains a 'Buy' on Honeywell (HON); Positioning to Execute in Tougher Times

Nomura Securities maintains a 'Buy' on Honeywell International (NYSE: HON) price target of $62.00.

Nomura analyst, Shannon O’Callaghan, says, "An analysis on HON’s positioning to execute in tougher times: In the last cycle, Honeywell executed strongly with segment income only declining 15% from peak to trough 2008-09. The market already appears to be pricing in worse. We think HON can do better and we see the company quietly positioning itself to execute again. The company has a proven recession playbook and we also estimate around $0.10-$0.15 of potential net tailwinds in 2012. Our $62 price target represents approximately 14.5x our 2012 EPS estimate of $4.30."

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 $43.80 yesterday.

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