U.S. markets open in 3 hours 56 minutes
  • S&P Futures

    4,411.50
    -3.50 (-0.08%)
     
  • Dow Futures

    34,960.00
    -38.00 (-0.11%)
     
  • Nasdaq Futures

    15,052.25
    +6.00 (+0.04%)
     
  • Russell 2000 Futures

    2,214.80
    -4.60 (-0.21%)
     
  • Crude Oil

    70.30
    -0.26 (-0.37%)
     
  • Gold

    1,815.00
    +0.90 (+0.05%)
     
  • Silver

    25.74
    +0.16 (+0.62%)
     
  • EUR/USD

    1.1862
    -0.0006 (-0.05%)
     
  • 10-Yr Bond

    1.1760
    0.0000 (0.00%)
     
  • Vix

    18.24
    -1.22 (-6.27%)
     
  • GBP/USD

    1.3927
    +0.0012 (+0.08%)
     
  • USD/JPY

    109.1800
    +0.1300 (+0.12%)
     
  • BTC-USD

    37,765.64
    -789.38 (-2.05%)
     
  • CMC Crypto 200

    923.48
    -19.96 (-2.12%)
     
  • FTSE 100

    7,132.09
    +26.37 (+0.37%)
     
  • Nikkei 225

    27,584.08
    -57.75 (-0.21%)
     

Honeywell Partners with Government of India To Ramp Up India’s Oxygen Production

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Honeywell International (HON) is teaming up with Indian government agencies to provide a timely supply of adsorbents to India and help ramp up oxygen production to combat the COVID-19 pandemic situation in the country.

Shares of the multinational conglomerate operating in aerospace, building technologies, performance materials, and safety and productivity solutions have jumped 53.6% over the past year. (See HON stock analysis on TipRanks)

Honeywell said its researchers will collaborate with Indian scientists at the Defence Research Development Organisation (DRDO) and with the Council of Scientific and Industrial Research–Indian Institute of Petroleum (CSIR–IIP) to test and validate the suitability of adsorbents for oxygen production in India.

Dr. Akshay Bellare, President of Honeywell India, commented, “Honeywell is committed to helping India address the current pandemic and is making every effort to find meaningful ways to engage with the Government of India in the fight to save lives.”

J.P. Morgan analyst Stephen Tusa recently reiterated a Buy rating on the stock.

Tusa thinks Honeywell has robust growth potential which remains completely underrated. He said that the several growth initiatives at Honeywell “are on the cusp of bearing fruit in the middle of key early-stage secular trends.”

Overall, the stock has a Moderate Buy consensus rating based on 8 Buys and 5 Holds. The HON average analyst price target of $238.18 implies 5.8% upside potential from current levels.

Related News:
United Airlines Launches Corporate Venture Capital Fund; Shares Drop 1.7%
Medtronic Receives FDA Approval for Neurostimulator; Shares Rise 1.4%
Occidental Petroleum Divests Non-Strategic Permian Basin Acreage for $508 Million

More recent articles from Smarter Analyst: