Deutsche Bank: Honeywell could be a $230 stock

Shares of Honeywell International Inc (NYSE: HON) are entering the “sweet spot” with respect to timing, says Deutsche Bank. The stock is down more than 10% from its high in mid-January.

Nicole Deblase sees a little under 20% upside in HON

Analyst Nicole Deblase on Thursday added HON to his Catalyst Call Buy Idea list and announced a price target of $230 on the stock that represents a little under 20% upside from here.

The Deutsche Bank analyst expects Honeywell to beat Q1 EPS estimates by only a cent but said:

This has been well telegraphed. We view full-year guidance as achievable, as it embeds little/no recovery in global supply chain. HON should benefit from its late-cycle end market exposures, including Aerospace, Oil & Gas, and Non-Residential Construction.

Honeywell International is expected to report its quarterly results in the final week of April.

Shannon Saccocia also likes Honeywell International

Boston Private’s Shannon Saccocia – a shareholder of Honeywell International Inc – agrees with the Deutsche Bank’s bullish call. On CNBC’s “Halftime Report”, she said:

Honeywell continues to grow its operating margins by focusing on execution and incorporation of technology. If you’re looking for a company in the industrial space that can continue to innovate and disrupt and have a cyclical tailwind, HON is a great name to add to the portfolio.

Last month, Honeywell CEO Darius Adamczyk said he didn’t see the Ukraine war as much of a headwind for the company’s aviation business.