Wells Fargo Cuts Honeywell Price Target By 5%

• Wells Fargo analyst Joseph O'Dea lowered the price target on Honeywell International Inc (NASDAQ:HON) to $205 (an upside of 6.8%) from $216 and maintained an Equal Weight rating on the shares following quarterly results.
• The analyst notes that an EPS guide below the $8.93 consensus was expected, but the magnitude of the shortfall and the second half of year weighted performance was poorly received.
• Related: Honeywell Stock Slips On Q4 Revenue Miss Hit By Supply Chain Challenges; Guides FY22 Below Consensus
• O'Dea says Q1 remains tough with organic revenue guided down 50bps year-over-year at the midpoint and an adjusted EPS guidance midpoint 15c below the $2.00 consensus into the print.
• The analyst argues that the challenging near-term and wait for the second half of the year upside injected more caution into the stock.
• Also Read: Read How Analysts Reacted to Honeywell's Q4 Results
• Price Action: HON shares are trading higher by 0.2% at $191.88 on the last check Monday.