Honeywell Sees Greater Business Opportunities

Citigroup has published a research report on Honeywell International Inc. (NYSE: HON) as the company's opportunities in China see potential and results from the Aero Meeting in Arizona.

In the report, Citigroup writes "Honeywell's analyst meeting at its Aero headquarters in Phoenix, AZ on Nov 18-19 showcased the array of growth initiatives across its Aero segment (28% of revs). The event included updates from nine senior mgrs, demos of flight simulators and avionics, and a manufacturing site tour. Overall, the meeting was positive at-the-margin, but not necessarily stock moving. The next catalyst should be the Dec 15 outlook call when mgmt gives initial 2011 EPS guidance. We still expect a slower-than-average recovery for HON as it leans against the late-cycle headwinds in both Aero and non-resi construction (22%)."

Citigroup maintains its Hold rating and $53 price target.

Honeywell International closed Friday at $49.78.