Analysts lowered the price target for Honeywell International Inc HON post Q4 results.
- JPMorgan analyst Stephen Tusa reduced the price target to $235 from $265 and maintained an Overweight rating on the shares.
- The analyst views the post-earnings selloff in the shares as "harsh." However, he understands the frustration "after a year of underperformance that has been uncommon for a story that has seemingly been bulletproof for a decade-plus."
- Tusa believes the guidance reset "should be a bottom."
- Related: Honeywell Stock Slips On Q4 Revenue Miss Hit By Supply Chain Challenges; Guides FY22 Below Consensus
- Citi analyst Andrew Kaplowitz lowered the price target to $248 from $264 and maintained a Buy rating on the shares.
- Kaplowitz mentions while supply-related constraints and inflationary headwinds could linger into the first half of 2022, the ongoing recovery across most of Honeywell's end markets, combined with the company's "continued operational rigor, could drive upside the "conservative" 2022 earnings guidance.
- He thinks longer-term fundamentals for Honeywell remain intact despite near-term macro constraints.
- Morgan Stanley analyst Joshua Pokrzywinski slashed the price target to $212 (an upside of 11%) from $228 and maintained an Equal-Weight rating on the shares.
- Credit Suisse analyst John Walsh lowered the price target to $211 (an upside of 10.5%) from $226 and maintained Honeywell a Neutral rating on the shares.
- Mizuho analyst Brett Linzey reduced the price target to $235 (an upside of 23.1%) from $245 and maintained a Buy rating on the shares.
- Price Action: HON shares are trading lower by 0.42% at $190.94 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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