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Honeywell Raises Outlook for 2023; Backlog Remains Strong

publication date: May 1, 2023
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Image: Honeywell continues to experience strong fundamental momentum across the board. Image Source: Honeywell. 

We liked Honeywell’s first-quarter 2023 report, released April 27, and its raised outlook for 2023. We remain huge fans of Honeywell’s ~2.1% dividend yield, and we support Honeywell’s COO Vimal Kapur who will succeed Darius Adamczyk as CEO on June 1, 2023. Our fair value estimate for Honeywell remains $210 per share. With shares trading at ~$200 at the time of this writing, there’s still valuation upside to the Honeywell story, in our view.


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