In a research note titled "'The OMC' (Original Mega-cap Compounder)," JPMorgan analyst Stephen Tusa raised his price target for Honeywell to $190 from $184 and keeps an Overweight rating on the shares. Honeywell has seen a :deserved decade long re-rating," from material discount to a modest premium on a headline basis, though remains at a discount on enterprise value to free cash flow, Tusa tells investors in a research note. He believes the company's "organic story should be enough to outperform on earnings growth." Further, "best in class balance sheet optionality provides insurance on this front," Tusa writes.