From AFX News Limited

MORRIS TOWNSHIP, NJ -- Diversified manufacturer Honeywell International on Thursday said it expects to meet its profit target for this year and predicted double-digit growth in earnings per share in 2007.

Honeywell, which makes aircraft systems, building control systems and automotive parts, said it still expects to report 2006 profit between $2.51 and $2.53 per share on revenue of $31.2 billion. The company puts cash flow from operations at about $3 billion.

Analysts have tailored their forecasts to that guidance and expect, on average, profit of $2.52 a share and revenue of $31.16 billion.

Honeywell's initial profit range for 2007 -- $2.85 to $2.95 per share -- would mean a double-digit increase from the expected 2006 result. The sales figure of $32.6 billion would equal a 5 percent gain. Cash flow from operations is projected between $3.2 billion and $3.4 billion.

Wall Street's profit expectation of $2.93 per share is within the company's target range, but analysts are currently expecting more robust sales growth to $32.75 billion.

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