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Honeywell Stock Is a Must-Buy As It Integrates into Air Travel and Automation Says, Analyst.
First American News, LLC, Raleigh, NC: Rising demand will make this year an inflection point for Honeywell International, according to UBS analyst Markus Mittermaier, who upgraded the shares Friday.
Mittermaier changed his rating to the equivalent of Buy from Hold, while he raised his target for the stock price to $237 from $229. That works out to about 25 times his estimate for 2022 per-share earnings of $9.34. The S&P 500 trades for about 21 times the estimated 2022 numbers.
That 25 time is a premium valuation, but Mittermaier sees Honeywell’s (ticker: HON) growth accelerating. “We expect growth into ’22 and ’23 to surprise to the upside,” wrote the analyst in a Friday report. Aerospace accounts for almost one-third of Honeywell’s sales, and Mittermaier sees global air travel recovering after the pandemic. Click here to read more on Honeywell Stock at Barron’s News.
