RBC Capital Cuts Price Target on Honeywell (HON) to $133; Reiterates Outperform
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
RBC Capital maintained an Outperform rating on Honeywell International (NYSE: HON), and cut the price target to $133.00 (from $138.00), following the company's negative 3Q preannouncement. Operating income was guided down about 10% vs. prior expectations and the revised 2017 operating income was down about 7%.
Analyst Deane Dray commented, "The slow-growth macro has apparently decelerated further and worsened familiar challenges in Aero and pressured short-cycle businesses at Outperform-rated Honeywell. Amid an impossibly complex quarter, the neg. preannouncement caught the market by surprise. The 10% decline in 3Q16 operating income helps explain the severity of the 7.5% decline in HON. We believe the stock is now sitting at a too-cheapto-ignore level, supporting our Outperform rating."
Shares of Honeywell International closed at $106.94 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs (GS) PT Raised to $256.00 at Oppenheimer Following 4Q Report
- Mitsubishi UFJ Downgrades Anadarko Petroleum (APC) to Neutral
- Fastenal (FAST) PT Raised to $49 at Credit Suisse Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!