Bank of America Remains Bullish on Honeywell; Reiterates "Buy" and Boosts Price Target (HON)

Bank of America Remains Bullish on Honeywell; Reiterates “Buy” and Boosts Price Target (HON)


On Monday, analysts at Bank of America reaffirmed a positive view on technology and manufacturing company Honeywell International Inc. (HON) due to favorable aerospace and energy markets.

The firm increased its price target on HON from $71 to $77. The new valuation suggests a +12.7% upside to Friday’s closing price of $68.33. Bank of America also backed its “Buy” rating on the company.

A Bank of America analyst commented, “Honeywell management has accomplished much in only a few years, including selling weak businesses, reinvesting in product development, and expanding the global footprint. Honeywell is positioned to meaningfully expand its margins and cash flow, in our view. Favorable tailwinds include aerospace aftermarket growth, global petroleum refining cycle, building manager demand for increasing energy efficiency and the rising penetration of turbochargers.”

Honeywell shares were flat during pre-market trading on Monday. The stock is up +17.26% over the past year.

The Bottom Line
Shares of Honeywell (HON) have a dividend yield of 2.40% based on Friday’s closing price of $68.33.

Honeywell International Inc. (HON) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today