Jefferies raised the firm’s price target on Honeywell (HON) to $260 from $220 and keeps a Hold rating on the shares. A “flurry of strategic actions have been further stimulated” by Elliott’s $5B stake announcement, points out the analyst, who notes that the company announced that it will provide an update on the board’s strategic portfolio review along with Q4 EPS and said that a potential separation of its Aerospace segment is being considered. Spinning Aerospace Technologies “appears the most likely outcome,” but an asset sale is unlikely as the $15B revenue franchise is “too large” for a potential suitor, the analyst tells investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on HON:
- Honeywell announcement suggests faster break-up timeline, says Citi
- Honeywell release signals Aero breakup ‘likely in the works,’ says BofA
- Honeywell call volume above normal and directionally bullish
- Honeywell still exploring alternatives, Capri weighs Versace sale: Morning Buzz
- Honeywell (NASDAQ:HON) Weighs Aerospace Spinoff amid Activist Pressure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
