Nomura Securities Maintains a 'Buy' on Honeywell (HON); Technology and Breadth Make Winning Formula on Business Jets

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

Nomura analyst, Shannon O'Callaghan, said, "Honeywell sells a breadth of leading technologies into the business jet market from engines to APU’s (auxiliary power units) to avionics yet we think Honeywell has experienced excessive concerns around avionics market share without fully reflecting the benefit of its ability to maximize economic value by focusing on winning where it sees the most value by platform and by product."

"...We think concerns around avionics wins by Rockwell Collins (NYSE: COL) and Garmin (NYSE: GRMN) miss the economic model that Honeywell has built, which is not based on winning every business jet avionics platform."

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 $54.00 yesterday.

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