shares of honeywell international inc took a hit wednesday after bofa securities analyst andrew obin said he no longer recommended investors buy citing expectations that inflation and supplychain headwinds will continue into next year obin downgraded the diversified industrial company to neutral from buy he also cut his stock price target to 245 from 270 honeywell’s stock hon fell 16 in midday trading it had bounced 27 over the previous four sessions since closing on dec 1 at a 10month low of 19942 the stock’s price decline of 329 shaved about 22 points off the dow jones industrial average’s djia price while the dow declined 84 points or 02 bofa’s obin said “there is a lot to like” about honeywell as recent investments have shifted the company business toward higher growth and margins but he believes the company is likely to face revenue and margin pressures into the first half of 2022 honeywell chief financial officer gregory lewis said at the company’s “leadership webcast series” last month that fourthquarter revenue was trending to the lowtomiddle end of expectations given the “severity of the constraints” in the economy from parts shortages and logistics and labor challenges according to a factset transcript and while the company was doing what it could to alleviate the challenges including raising prices and compensation lewis said it was “going to be a real fight” “it’s going to be with us for a while” lewis said “it’s really hard to say whether we’re seeing the peak right now but i would say to just kind of reiterate i think we’re going to see some of these challenges going into the first half of next year” he highlighted however that “demand is not the issue” it’s meeting that demand bofa’s obin said given the nearterm headwinds he believes the scope for upward earnings revisions and valuation multiple expansion is limited “we believe honeywell is a highperforming multiindustrial with the sum worth more than the parts” obin wrote in a research note to clients “however our sumoftheparts analysis does not support further multiple expansion in the near term” the stock has slumped 92 over the past three months while the spdr industrial select sector exchangetraded fund xli has tacked on 21 and the dow has gained 17