Honeywell price target raised to $258 from $243 at Barclays

Barclays analyst Julian Mitchell raised the firm’s price target on Honeywell (HON) to $258 from $243 and keeps an Overweight rating on the shares after meeting with the company’s aerospace management. The meeting reinforced conviction that Honeywell has “turned the corner on negative Street estimate revision momentum,” and that the Aerospace business is likely to warrant a high valuation multiple as a standalone entity, the analyst tells investors in a research note.