UBS Upgrades This Fortune 100 Technology Company

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.