- UBS analyst Markus Mittermaier upgraded Honeywell International Inc HON from Neutral to Buy and raised the price target to $237 (an upside of 9.6%) from $229.
- Mittermaier believes, rising demand will make this year an inflection point for Honeywell International.
- The analyst sees Honeywell's growth accelerating; he expects growth into '22 and '23 to surprise the upside and sees global air travel recovering after the pandemic.
- Mittermaier says the increased demand for automation solutions will help the company, too. Honeywell will benefit from "a capital spending inflection in the Process Automation and Oil and Gas exposures."
- "With the stock having been a laggard in '21, underperforming the risk/reward at current levels is attractive given the expected inflection," mentions Mittermaier.
- Price Action: HON shares traded higher by 2.59% at $216.29 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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