Honeywell has partnered up with Atrium Health, Tepper Sports & Entertainment and the Charlotte Motor Speedway in an...

Honeywell has partnered up with Atrium Health, Tepper Sports & Entertainment and the Charlotte Motor Speedway in an…

Honeywell has partnered up with Atrium Health, Tepper Sports & Entertainment and the Charlotte Motor Speedway in an effort to get 1 million frontline workers vaccinated by July 1, 2021.

According to Darius Adamczyk, CEO of Honeywell (HON), “Honeywell is world renowned for managing highly complex logistics, information technology and operational issues,” adding that he is “very pleased that Honeywell is leading this coalition of private and public organizations.”

At a news conference on Jan. 12, Gov. Roy Cooper announced that several mass vaccination sites are being set up across North Carolina to improve the rollout of the COVID-19 vaccine.

Bank of America Stadium and the Charlotte Motor Speedway will serve as initial locations to contribute to this public-private initiative, together with a third, yet to be determined venue.

The non-profit healthcare system, Atrium Health will be used to operate the mass vaccination events.

Credit Suisse analyst John Walsh reiterated his Buy rating on HON three weeks ago and ramped up his price target from $182 to $225. This implies upside potential of around 8% from current levels.

Commenting on Honeywell’s $1.3 billion deal to buy Sparta Systems, Walsh said that he expects recent software acquisitions to act as digital multipliers across the organization, which softens the headline transaction multiple.

Consensus among analysts is a Moderate Buy based on 9 Buys and 7 Holds. The average price target of $212.53 implies moderate update potential of 1.9% to current levels.

HON gets a 4 out of 10 on Tipranks’ Smart Score rating indicating that it is likely to perform in line with market averages.

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Credit: TipRanks

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