Andrew Obin, an analyst from Bank of America Securities, maintained the Buy rating on Honeywell International (HON – Research Report). The associated price target remains the same with $250.00.
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Andrew Obin has given his Buy rating due to a combination of factors including Honeywell International’s strong growth prospects in the Aerospace sector. The company has set a medium-term growth target of mid-to-high single digits, supported by robust backlogs in Commercial Original Equipment and increased defense budgets globally. Additionally, Honeywell’s focus on aftermarket initiatives, such as retrofits, modifications, and upgrades, is expected to drive significant revenue growth and enable the company to outperform the market.
Furthermore, Honeywell’s differentiated avionics and software portfolio in Electronic Solutions positions it well against competitors, with a strategic focus on upselling higher-margin software. The company’s efforts to improve its supply chain and increase market share from third-party servicers are also seen as positive steps. These factors, combined with a conservative approach to margin management and a strong industry outlook, underpin Obin’s confidence in Honeywell’s ability to achieve its price objective of $250.
In another report released today, Barclays also maintained a Buy rating on the stock with a $243.00 price target.