Sharekhan has given Buy recommendation for Honeywell Automation India with a target price of Rs. 52,407 in its research report issued on Jun 01, 2021
Sharekhan’s research report on Honeywell Automation India
Q4 results lagged estimates as revenue booking may have been affected by supply chain disruptions. However, OPM improved y-o-y despite pressure on gross margins. Honeywell is expected to benefit from parent’s strong growth outlook for key segments, while domestic growth is expected to be driven by oil & gas, smart cities, airports and building solution segments. Company continues to generate strong cash flows, maintaining strong balance sheet.
We retain a Buy on Honeywell Automation India with a revised price target of Rs. 52,407 factoring a marginal reduction in revised estimates.