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MMM

3M

$195.55

-23.69 (-10.81%)

, HON

Honeywell

$170.63

-0.63 (-0.37%)

12:15
04/25/19
04/25
12:15
04/25/19
12:15

JPMorgan's Tusa says 3M should trade at discount to Honeywell

JPMorgan analyst Stephen Tusa is speaking on CNBC.

MMM

3M

$195.55

-23.69 (-10.81%)

HON

Honeywell

$170.63

-0.63 (-0.37%)

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MMM 3M
$195.55

-23.69 (-10.81%)

01/15/19
JPMS
01/15/19
NO CHANGE
JPMS
Neutral
GE risk/reward unfavorable into Q4 report, says JPMorgan's Tusa
JPMorgan analyst Stephen Tusa says the risk/reward on shares of General Electric (GE) is unfavorable into the company's Q4 earnings report. GE shares have bounced over the last month, outperforming the group by over 3,000 basis points, Tusa writes in a research note previewing earnings reports for the group. He believes the recent stock move "is built upon an expectation of more certainty in the path forward." Tusa thinks the focus on the earnings call should turn back to fundamentals, where he continues to see "disconnect with high level analyses from those who apparently ignore the mechanical headwinds from dilutive asset sales, a key aspect as to why FCF remains so weak." The call will "reinforce the Bear case that there is no concrete silver bullet plan, and much remains fluid, also negative," Tusa contends. He recommends Honeywell (HON) and Emerson Electric (EMR) as longs into the quarter and tells investors to avoid Johnson Controls (JCI), 3M (MMM) and Rockwell Automation (ROK). Tusa has a Neutral rating on General Electric.
01/30/19
JEFF
01/30/19
NO CHANGE
Target $209
JEFF
Hold
Jefferies 'incrementally cautious' on 3M, sees shares as range-bound
Jefferies analyst Laurence Alexander is "incrementally cautious" on 3M following yesterday's Q4 results. The analyst expects the shares to remain range-bound until after the Chinese New Year and a "more favorable global industrial outlook presents itself." He keeps a Hold rating on 3M with a $209 price target.
03/25/19
DBAB
03/25/19
NO CHANGE
DBAB
Deutsche Bank makes 'Catalyst Call' to buy Honeywell, sell 3M
Deutsche Bank analyst Nicole DeBlase is making a "Catalyst Call" to buy shares of Honeywell (HON) and sell shares of 3M (MMM). The analyst sees continued potential for earnings beats and full year guidance raises from Honeywell given its "attractive exposure" to late-cycle end markets. These include, according to the analyst, aerospace and defense and non-residential construction, along with secular growth drivers such as warehouse automation. On the other hand, DeBlase forecasts a "substantial" 4% earnings miss in Q1 for 3M. The company is exposed to a number of end markets that have faced quarter-over-quarter deterioration, including automotive and electronics and China, the analyst tells investors in a research note. She does not view even the low end of 3M's guidance as achievable. Moreover, she points out that 3M is the most expensive stock she covers. DeBlase has a Buy rating on Honeywell with a Sell rating on 3M.
03/29/19
JPMS
03/29/19
NO CHANGE
Target $154
JPMS
Underweight
3M price target lowered to $154 from $158 at JPMorgan
JPMorgan analyst Stephen Tusa lowered his price target for Underweight-rated 3M to $154 from $158. The analyst says he continues to see evidence of structurally lower profit growth as the company faces an "increasingly apparent trade-off between top line growth and margins." Seasonality, which is typically consistent for "this short cycle player," suggests an earnings per share number that is well below consensus at ~$10, Tusa tells investors in a research note partially titled "The Opposite Of Compounding." 3M's "earnings curve continues to have a downward slope," Tusa writes.
HON Honeywell
$170.63

-0.63 (-0.37%)

02/04/19
ARGS
02/04/19
NO CHANGE
Target $180
ARGS
Buy
Honeywell weakness offers buying opportunity, says Argus
Argus analyst John Eade kept his Buy rating and $180 price target on Honeywell, saying the stock's recent weakness offers a buying opportunity. The analyst notes the recent 10% slide from the highs in the shares because of tariff related concerns, but believes that the company can "generate low double-digit earnings growth over the next five years", benefiting from "diverse product lines as well as presence in the commercial aerospace and commercial construction markets." Eade adds that while China infrastructure growth is slowing, Honeywell's "mid-market" product sales in the country are growing.
04/22/19
DBAB
04/22/19
NO CHANGE
Target $187
DBAB
Buy
Honeywell price target raised to $187 from $174 at Deutsche Bank
Deutsche Bank analyst Nicole DeBlase raised her price target for Honeywell to $187 from $174 saying the company reported another "strong" quarter. The analyst believes Honeywell will be viewed as the best Q1 release in the space when all peers are done reporting. In a post-earnings research note titled "Simply The Best," DeBlase keeps a Buy rating on the shares.
04/23/19
FBCO
04/23/19
NO CHANGE
Target $185
FBCO
Outperform
Honeywell price target raised to $185 from $170 at Credit Suisse
Credit Suisse analyst John Walsh raised his price target for Honeywell to $185 from $170 after the company posted "strong" organic sales growth of 8%, with strength across all segments. The analyst reiterates an Outperform rating on the shares.

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