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Why Wall Street Is Optimistic about Honeywell after 1Q17 Results

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Part 7
Why Wall Street Is Optimistic about Honeywell after 1Q17 Results PART 7 OF 7

What Analysts Recommend for Honeywell

Analyst recommendations for Honeywell

On April 24, 2017, 21 brokerage companies were actively tracking Honeywell (HON) stock. 81% of these analysts recommended a “buy” on the stock, and 19% recommended a “hold.”

What Analysts Recommend for Honeywell

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Analysts’ consensus indicates a 12-month target price of $131.4 for HON. This price implies a return potential of 1.2% from its closing price of $129.79 on April 24, 2017.

Analysts appear to be optimistic

Honeywell’s better-than-expected earnings per share (or EPS) and its upward revision of the lower end of its EPS guidance for the full year 2017 have made analysts optimistic about the stock.

Recommendations and price targets

Below are some of the recommended target prices for Honeywell from some well-known brokerage firms:

  • Citigroup recommends a target price of $147 for the stock. The target implies a 12-month potential return of 13.3% from its closing price of $129.79 on April 24, 2017.
  • Oppenheimer recommends a target price of $148 for the stock. The target implies a 12-month potential return of 14.0% from its closing price of $129.79 on April 24, 2017.
  • Goldman Sachs (GS) recommends a target price of $137 for the stock. The target implies a 12-month potential return of 5.5% from its closing price of $129.79 on April 24, 2017.

You can indirectly hold Honeywell by investing in the First Trust Capital Strength ETF (FTCS), which invests 2.1% of its portfolio in Honeywell. The fund’s top holdings include Apple (AAPL) and Adobe Systems (ADBE), which both have weights of 2.3% in the fund’s portfolio as of April 24, 2017.

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