Honeywell International Inc. (HON) sold off following last week’s earnings, where revenues missed expectations, and its shares are now down nearly 9% for the year, badly underperforming the market. However, I think the selling last week was overdone, as earnings estimates for 2024 have remained stable.
HON is a very strong company with a long history of stable growth, and I believe investing in a company like this in a time of growing froth in the market is the right move. I will have more in next week’s issues, but for now, buy HON stock.
Buy HON stock under $200, my target is $220.