Buy Honeywell Automation India: target of Rs 44,312: Sharekhan

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Sharekhan's research report on Honeywell Automation India

Management expects FY2021 performance to be better than FY2020, backed by execution capabilities and growing demand for industrial automation and software solutions. Company likely to benefit from domestic growth, driven by rising technological capabilities with large opportunities in the oil & gas, smart cities infrastructure, new upcoming airports and building solutions. Exports is expected to remain steady with opportunities arising from global group entities; Large orders remain intact.

Outlook

We maintain a Buy rating on Honeywell Automation India with a revised price target of Rs. 44,312, rolling forward our valuation multiple to FY2023E.

For all recommendations report, click here

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