For the most part, I try to avoid buying stocks where the company is already pretty popular with the Street. Sell side
analysts have a tendency to pick horses and then ride them into the
ground with “the stock is at my target, so I'm lifting my target” types
of calls. In the case of Honeywell (NYSE:HON),
though, I can understand why this industrial conglomerate is basking in
some Wall Street love. Not only is the company well-positioned to take
advantage of some major long-term global trends, but R&D investments
made years ago should start bearing fruit and the company may yet have
more margin leverage left at a time when so many industrials may be
peaking.
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