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the advance reflects a breakout from a high base, and while he says it's hard to come up with a price target for a stock that's flirting with all-time highs, the last time Honeywell broke out of a similar base was in early 2013, and that led to a 50 percent rally.

The key level, he says $100. If Honeywell can jump that hurdle, then Fitzpatrick sees the stock going much higher.

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