Honeywell Shares Surge Above Analyst Price Target: What’s Next?

In recent trading, shares of Honeywell International Inc (Symbol: HON) hit $233.95, surpassing the average analyst 12-month target price of $225.31. When a stock reaches this target, analysts typically respond in one of two ways: they may downgrade their valuation or raise their target price. The analyst’s next step often depends on recent business developments linked to the company’s performance. If the outlook for Honeywell appears bright, they might consider elevating the price target.

In total, 19 analysts contribute to Zacks’ coverage of Honeywell, yet the average price target is a simple mathematical mean. Some analysts remain cautious, with one forecasting a price of $210.00. Conversely, one analyst has set a much higher target of $245.00, leading to a standard deviation of $11.145 among these estimates.

The average price target serves as a reflection of collective analyst insights, rather than solely relying on an individual expert’s opinion. With Honeywell exceeding the average target price of $225.31, investors are prompted to reevaluate the company. They must consider whether $225.31 is merely a stepping stone towards higher returns or if the stock valuation has become overstretched, suggesting they might want to secure some profits. Below is a table illustrating the current perspectives of analysts covering Honeywell International Inc:

The average rating is scored from 1 to 5, with 1 being Strong Buy and 5 being Strong Sell. This article features data from Zacks Investment Research via Quandl.com. Access the latest Zacks research report on HON — FREE.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.