UBS Maintains a 'Neutral' on Honeywell International (HON); Solid Long-Cycle Backlog Driving ’12 Growth

UBS maintains a 'Neutral' on Honeywell International (NYSE: HON) price target raised from $55 to $57.

UBS analyst says, "Long-cycle backlog of ~$16B to drive 2012 growth despite macro challenges: HON expects its performance to improve over the course of the year despite a challenging macro environment (particularly in Europe). However, management noted that its outlook does not reflect meaningful improvement in Europe in 2H12, and that a sizable percentage of its sales in that region are long-cycle. Emerging regions (20% of sales) grew 20% organically in 4Q and are expected to remain strong in 2012 (China is forecast up double digits)."

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 $58.27 yesterday.

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