Honeywell: Jefferies drops buy rating
(CercleFinance.com) - Jefferies has downgraded its rating on the Honeywell share from "buy" to "hold", as the industrial conglomerate's stock has risen by 16% YTD, therefore exceeding its target price, which it the broker has decided to raise from 190 dollars to 210 dollars.
Jefferies believes that the stock could remain within a range for several reasons, including a risk of stagnation in the defense budget (around 15% of sales), while it expects 4% growth p.a. over the next three years.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Jefferies believes that the stock could remain within a range for several reasons, including a risk of stagnation in the defense budget (around 15% of sales), while it expects 4% growth p.a. over the next three years.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.