Honeywell Fares Well as J.P. Morgan Raises Estimates

According to a research report this morning, Honeywell (NYSE: HON) is in the better-than-expected 2Q range and it continues to increase its value.

J.P. Morgan stated, “EPS of $1.04 was $0.05 ahead of Consensus with segment profits $0.08 ahead of our model, and results included an additional ~$0.02 in repositioning that bank savings for future quarters. The full 2Q guidance range ($1.09-1.13) came in above Consensus, positive and highly unusual for a typically conservative HON.”

The market closed Friday with HON at $59.39 as J.P. Morgan increases its PT from $64 to $65 and maintains its overweight rating.