Why Honeywell Stock Ticked Higher Today
Storied industrial conglomerate Honeywell (NASDAQ: HON) had a fine Wednesday on the stock exchange. Bolstered by a recommendation upgrade from a prominent U.S. bank, the company's shares rose to a more than 2% gain during the Hump Day trading session. That figure was notably higher than the 0.4% improvement posted by the S&P 500 (SNPINDEX: ^GSPC). Well before market open that day, no less an institution than Bank of America Securities became significantly more bullish on Honeywell stock. It now considers the shares to be worthy of a buy, where previously it flagged them as neutral. The bank also made a significant raise to its price target, to $250 per share from the preceding $210. At the new level, Bank of America is anticipating more than 16% upside to the current stock price. Image source: Getty Images.Continue reading
Storied industrial conglomerate Honeywell (NASDAQ: HON) had a fine Wednesday on the stock exchange. Bolstered by a recommendation upgrade from a prominent U.S. bank, the company's shares rose to a more than 2% gain during the Hump Day trading session. That figure was notably higher than the 0.4% improvement posted by the S&P 500 (SNPINDEX: ^GSPC).
Well before market open that day, no less an institution than Bank of America Securities became significantly more bullish on Honeywell stock. It now considers the shares to be worthy of a buy, where previously it flagged them as neutral. The bank also made a significant raise to its price target, to $250 per share from the preceding $210. At the new level, Bank of America is anticipating more than 16% upside to the current stock price.
Image source: Getty Images.
