TD Cowen analyst Gautam Khanna maintained a Buy rating on Honeywell International (HON – Research Report) today and set a price target of $230.00.
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Gautam Khanna has given his Buy rating due to a combination of factors that reflect Honeywell International’s strategic moves and future potential. The company has announced a significant reorganization, including the sale of its Personal Protective Equipment business and the spin-off of its Advanced Materials segment. These actions are expected to streamline operations and potentially enhance shareholder value by focusing on core areas with higher margins.
Furthermore, the separation of Aerospace from Automation is anticipated to occur in the latter half of 2026, with both segments aiming for strong credit ratings and full free cash flow conversion. This strategic restructuring, despite initial costs, is expected to position Honeywell favorably in the market. The anticipated gradual improvement in the stock’s performance as these portfolio changes take shape contributes to the Buy rating recommendation.
In another report released today, Barclays also maintained a Buy rating on the stock with a $260.00 price target.