Wells Fargo Lowers Honeywell (HON) Target, Cites Near-Term Market Uncertainty

Honeywell International Inc. (NASDAQ:HON) is one of the best battery tech stocks to buy right now. Wells Fargo has kept a Hold rating on Honeywell International Inc. (NASDAQ:HON). On August 1, the analyst Joseph O’Dea lowered the price target from $240 to $230. Wells Fargo remains cautious about the company’s near-term prospects.

Wells Fargo Lowers Honeywell (HON) Target, Cites Near-Term Market Uncertainty

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Honeywell International Inc. (NASDAQ:HON) is a large company that works in many areas, including aerospace, building technologies, and energy solutions. The company has been making progress in battery-related projects this year. For example, Honeywell was chosen to provide automation systems for LG Energy Solution’s new electric vehicle battery factory in Arizona. This shows Honeywell is involved in the growing market for batteries, which are important for electric cars and clean energy.

Even with this progress, Wells Fargo remains careful because the overall market conditions are uncertain. There may be challenges that affect Honeywell’s sales and profits in the short term. Investors might want to wait and see how the company performs before making decisions. The lower price target suggests that gains from the stock could be limited for now, but Honeywell’s broad business areas could help it do well in the future.

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 this cheapest AI stock.

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Disclosure: None.