Benzinga | Jan 14, 2022 07:50AM EST

Berenberg Initiates Honeywell With Hold Rating

* Berenberg analyst Philip Buller initiated coverage of Honeywell International Inc (NASDAQ:HON) with a Hold rating and a price target of $230, implying an upside of 4.82%.

* Buller says Honeywell is an "exceptionally well-run company" positively aligned towards several attractive themes, including commercial aerospace recovery, building efficiency, warehouse automation, industrial automation, and chemical technologies.

* However, the analyst struggles to justify a higher share price at this time.

* Recently, UBS analyst Markus Mittermaier upgraded Honeywell from Neutral to Buy and raised the price target to $237 (an upside of 8%) from $229.

* Also Read: UBS Upgrades This Fortune 100 Technology Company

* Price Action: HON shares closed higher by 0.54% at $219.43 on Thursday.