Benzinga | Jan 7, 2022 01:51PM EST

UBS Upgrades This Fortune 100 Technology Company

* UBS analyst Markus Mittermaier upgraded Honeywell International Inc (NASDAQ:HON) from Neutral to Buy and raised the price target to $237 (an upside of 9.6%) from $229.

* Mittermaier believes, rising demand will make this year an inflection point for Honeywell International.

* The analyst sees Honeywell's growth accelerating; he expects growth into '22 and '23 to surprise the upside and sees global air travel recovering after the pandemic.

* Mittermaier says the increased demand for automation solutions will help the company, too. Honeywell will benefit from "a capital spending inflection in the Process Automation and Oil and Gas exposures."

* "With the stock having been a laggard in '21, underperforming the risk/reward at current levels is attractive given the expected inflection," mentions Mittermaier.

* Price Action: HON shares traded higher by 2.59% at $216.29 on the last check Friday.