Honeywell International (HON) PT Raised to $190 at Cowen

November 2, 2020 7:02 AM EST
Get Alerts HON Hot Sheet
Price: $227.79 -2.13%

Rating Summary:
    16 Buy, 13 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 23
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Cowen analyst Gautam Khanna raised the price target on Honeywell International (NYSE: HON) to $190.00 (from $160.00) while maintaining an Outperform rating.

The analyst commented, "Q3 revealed HON's urgent cost controls (Q3 decrementals = 29%; Q4 guide implies 22-23% decrementals) & sequential sales gain in high margin, comml aero aftermarket submarkets (bizjet >45%; ATR +2%). Our new C21 EPS is near $8, & our PT moves to $190, approx. 17x C21 EV/EBITDA, a comparable level to TT."

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