UBS Maintains a 'Neutral' on Honeywell International (HON); Longer-cycle Businesses Expected to See Moderating Growth

UBS maintains a 'Neutral' on Honeywell International (NYSE: HON) price target raised from $57 to $61.

Analyst, Jason Feldman, said, "Q1 adjusted EPS of $1.04 was ahead of consensus ($0.99) and guidance of $0.96-$0.98. The beat was driven by commercial Aero (+18% core equipment and +16% aftermarket sales) and UOP (+40%). Results at ACS and Transportation were roughly in-line, with both businesses impacted by European and China weakness. Segment margin of 15.2% increased 70 bps YoY and 10bps Q0Q; we estimate segment incremental margins of ~24%. Overall, a very strong quarter, in our view."

FY12 EPS estimate increassed from $4.40 to $4.50 and FY13 from $4.90 to $5.00.

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 $59.39 yesterday.

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