On Oct 25, major Wall Street analysts update their ratings for $Honeywell (HON.US)$, with price targets ranging from $215 to $244.
J.P. Morgan analyst Stephen Tusa maintains with a hold rating, and adjusts the target price from $235 to $233.
BofA Securities analyst Andrew Obin downgrades to a hold rating, and adjusts the target price from $250 to $230.
Citi analyst Andrew Kaplowitz maintains with a buy rating, and adjusts the target price from $240 to $244.
Barclays analyst Julian Mitchell maintains with a buy rating, and maintains the target price at $229.
Wells Fargo analyst Joe O'Dea maintains with a hold rating, and adjusts the target price from $207 to $215.
Furthermore, according to the comprehensive report, the opinions of $Honeywell (HON.US)$'s main analysts recently are as follows:
Honeywell's Q3 report was somewhat disappointing, particularly considering previous positive signals about Q3 performance and the optimistic outlook for 2025 trends expressed in September.
Subdued demand trends in certain end markets of Honeywell have had an impact on the stock following the Q3 earnings release. Nonetheless, the sustained emphasis on initiatives aimed at growth and the potential for refining its portfolio are anticipated to underpin its long-term sales growth objectives.
The 10% earnings growth target for Honeywell, which is the median of the projected 8-12% through-cycle growth rate, remains challenging to achieve by 2025. Nevertheless, it is anticipated that this will lead to a recalibration of consensus figures among investors.
Honeywell has adjusted its full-year organic growth forecast downward due to the continued weak demand in Industrial Automation, which is expected to extend into the second half of 2024. Eventually, this growth is anticipated to contribute positively to incremental margins, though such benefits are not projected for the current year.
The ongoing weakness in Honeywell's short-cycle businesses is anticipated to persist until year-end, leading to limited visibility and introducing some uncertainty around growth in 2025. Despite the company's strong long-cycle performance and strategic acquisitions contributing to a more positive outlook, the complexity of the situation heading into 2025, coupled with the continued sluggishness in the short-cycle segment, results in less certainty regarding Honeywell's foundational earnings power. Consequently, the risk/reward proposition for the stock is perceived as more neutral at its current valuation.
Here are the latest investment ratings and price targets for $Honeywell (HON.US)$ from 6 analysts:
Note:
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