Wall Street has turned very positive on industrial conglomerate Honeywell (NYSE:HON),
to the tune to of a market-beating 12% rise over the past quarter and a
44% rise over the past year. Certainly there are reasons to like
Honeywell – the company's commercial aerospace is well-positioned for
global growth, as is the building controls business. What's more, years
of investments in the performance materials business should start paying
off soon. Even so, there's a limit to what any business is worth, and
it seems like Wall Street's enthusiasm has sent the shares above that
limit.
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