Wall Street Remains Bullish On Honeywell (HON) Post Spinoff

Honeywell International Inc. (NASDAQ:HON) is one of the 12 Best Dow Stocks to Invest In Right Now. According to a report released on July 1, BMO Capital analyst Daniel DiCicco reiterated a Buy rating on Honeywell International Inc. (NASDAQ:HON) with a price target of $253. The price target reflects a further 10% upside from current levels. The firm’s assigned price target is slightly below the median Wall Street analyst price target of $254, based on 27 analysts covering the stock.

Honeywell International Inc. (NASDAQ:HON) is one of the 12 Best Dow Stocks to Invest In Right Now.

Adding to the day’s analyst activity, Citi also revised its outlook on HON. In contrast to BMO Capital, Andrew Kaplowitz from Citi lowered the firm’s price target on Honeywell International Inc. (NASDAQ:HON) from $269.40 to $260. However, the analyst kept a Buy rating on the stock. The downward-revised price target is still higher than the median Wall Street analysts’ price target of $254 based on 27 analysts covering the stock. The firm’s price target suggests an additional 13% upside from here on.

Citi updated its outlook on Honeywell following the company’s recent spinoff. The firm believes HON’s more focused automation business is now better positioned for future growth. It expects the company to deliver steadier and more predictable sales growth over the long term.

Honeywell International Inc. (NASDAQ:HON) operates across multiple business areas, including industrial automation, aerospace technologies, building automation, and energy and sustainable solutions. The company operates across Europe, the United States, and other international markets.

While we acknowledge the risk and potential of HON as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HON and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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