Oppenheimer Lifts PT on Honeywell (HON) Following Solid Q2
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Price: $220.31 +0.54%
Rating Summary:
18 Buy, 18 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
18 Buy, 18 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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Oppenheimer analyst Christopher Glynn reiterated an Outperform rating and raised its price target on Honeywell International (NYSE: HON) from $87 to $91 following Q2 results.
Glynn comments, "ACS organic revenue growth of 3% against a 4% comparison indicates solid commercial execution, including Europe up slightly. PMT comparisons limited margin expansion on the surface, but productivity at Aero and ACS overwhelmed that material headwind. TS benefited on top line and margins from strong steady orders throughout the quarter and improved China heavy vehicle, providing some margin lift vs. expectations. PMT and Turbo remain subject to market-specific mix and channel dynamics and likely peaked during 1H, while Aero and ACS appear positioned for typical upward slanting linearity through 2H."
The firm raised 2013 EPS by 5c to $4.95 and 2014 EPS by 5c to $5.50.
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 $83.57 yesterday.
Glynn comments, "ACS organic revenue growth of 3% against a 4% comparison indicates solid commercial execution, including Europe up slightly. PMT comparisons limited margin expansion on the surface, but productivity at Aero and ACS overwhelmed that material headwind. TS benefited on top line and margins from strong steady orders throughout the quarter and improved China heavy vehicle, providing some margin lift vs. expectations. PMT and Turbo remain subject to market-specific mix and channel dynamics and likely peaked during 1H, while Aero and ACS appear positioned for typical upward slanting linearity through 2H."
The firm raised 2013 EPS by 5c to $4.95 and 2014 EPS by 5c to $5.50.
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 $83.57 yesterday.
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