UPDATE: Morgan Stanley Reiterates On Honeywell International Following China Industrials Summit

In a report published Friday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on Honeywell International (NYSE: HON), but removed the $102.00 price target.

In the report, Morgan Stanley noted, “Overall Honeywell is happy with what it is seeing in China and the broader High Growth Regions with very limited impact from the political volatility in some of these countries. 13-14% p.a. growth rates in China over the past couple of quarters are seen as sustainable as the company continues to penetrate lower tier cities with locally developed (E4E) product. Honeywell believes that this along with its leverage to energy, energy efficiency and pollution abatement will enable it to continue growing at 2x GDP.”

Honeywell International closed on Thursday at $94.44.