BMO Capital initiated coverage of Honeywell (HON) with an Outperform rating and $273 price target The firm is positive on the stock ahead of the planned Aerospace spin in 3-6 months while noting that the strong Aerospace & Defense fundamentals – combined with the Remainco portfolio transformation – are not discounted, the analyst tells investors in a research note. The ongoing strategic review of the Warehouse and Productivity businesses and spin updates provide upcoming catalysts, the firm added.
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