Honeywell: Credit Suisse raises price target

(CercleFinance.com) - Credit Suisse reconfirms its 'outperform' rating on Honeywell with a target price upped from 182 to 225 dollars, welcoming the group's latest software acquisitions (Sine and Sparta).


The broker explains that its new price target is based on 25 times the EPS of 9 dollars anticipated for 2022, compared with 23 times the EPS of 7.90 dollars previously expected for 2021.

It believes that Honeywell “can sustain the upper band of its historical 15% premium to the S&P 500 driven by margin execution, balance sheet optionality, and early visibility into an aerospace recovery as vaccines are deployed”.

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