Honeywell (HON) Stock Slides, Barclays Ups Price Target
NEW YORK (TheStreet) -- Shares of Honeywell (HON) - Get Report are rising 0.32% to $115.24 this morning as Barclays raises its price target on the stock to $131 from $127.
The firm has an "overweight" rating on shares of the Morris Plains, NJ-based technology and manufacturing company.
Barclays said the increase was largely driven by the company's recent earnings beat, higher margin expectations in the second half of the year and the impact of share buybacks.
Honeywell reported 2016 second quarter earnings on Friday, July 22 at $1.66 per share vs. analysts' estimates of $1.64 per share.
The firm also upped its 2017 earnings forecast to $7.25 per share from $7.05 per share.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
TheStreet Ratings rated this stock as a Buy with a ratings score of A+.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins. TjeStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: HON