UPDATE: Berenberg Starts Honeywell International (HON) at Hold
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Berenberg analyst Philip Buller initiates coverage on Honeywell International (NASDAQ: HON) with a Hold rating and a price target of $230.00.
The analyst comments "Great company, higher alpha alternatives: Honeywell is an exceptionally well-run company, enjoying leadership positions across each of its four businesses with a relentless focus on profitability. Moreover, the company is positively aligned towards several attractive themes, including the commercial aerospace recovery, building efficiency, warehouse automation, industrial automation and chemical technologies. However, while we like the company, we struggle to justify a higher share price at this time. We initiate with a Hold rating and a DCF- and SOTP-driven price target of USD230."
Shares of Honeywell International closed at $219.43 yesterday.
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