Diversified industrial manufacturer Honeywell International Inc. (HON) on Thursday received some continued bullish commentary from analysts at Jefferies & Co.
The firm reiterated its “Buy” rating on HON as well as its $72 price target, suggesting a nearly 26% upside to the stock’s Wednesday closing price of $57.37.
A Jefferies analyst commented, “Management of Honeywell’s Transportation Systems unit along with Caterpillar (NYSE: CAT) jointly hosted investors at CAT’s Tinaja Hills Facility for a briefing and demonstration of off-highway equipment to gain a better understanding of HON’s Turbocharger Capabilities. We estimate that HON generates about $250 million in revenues from the sale of Turbochargers to Caterpillar.”
Honeywell shares rose $1.02, or +1.8%, in premarket trading Thursday.
The Bottom Line
Shares of Honeywell (HON) have a 2.60% dividend yield, based on last night’s closing stock price of $57.37. The stock has technical support in the $53-$55 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $60-$63 a share.
Honeywell International Inc. (HON) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here