Honeywell weakness offers buying opportunity, says Argus

Argus analyst John Eade keeps a Buy rating and $230 price target on Honeywell, saying the recent weakness in the stock represents a buying opportunity. The company will continue to benefit from its diverse product lines, as well as from its leading presence in the commercial aerospace and commercial construction markets – two businesses that have not yet fully recovered from the pandemic and high-inflation challenges, the analyst tells investors in a research note. Honeywell also offers a clean balance sheet, while its management has a reputation for under-promising and over-delivering, the firm added.