Honeywell price target raised to $268 from $249 at RBC Capital

RBC Capital raised the firm’s price target on Honeywell (HON) to $268 from $249 and keeps an Outperform rating on the shares. The company delivered a solid Q4 amid re-segmentation noise and Solstice moving to discontinued operations, the analyst tells investors in a research note. As the Aero spin date approaches, investors will develop a greater appreciation for Honeywell’s implied 18% discount to its sum-of-the-parts valuation, the firm added.