Honeywell Target Raised (HON)

Broadpoint AmTech says Honeywell (NYSE: HON) remains undervalued as end market volumes recover. Broadpoint raised their EPS estimate and price target on the aerospace and automotive parts maker.

Broadpoint increased their price target to $60 from $48 and raised their 2010 EPS estimate to $2.50 from $2.45. The firm says it appears Honeywell remains undervalued based on a higher multiple of trough earnings and more normalized earnings moving forward.

Shars of Honeywell are higher today by 37 cents, or 0.82%, to $45.32. Shares touched a new 52-week high of $45.75 earlier this morning.