RBC Capital Cuts Price Target on Honeywell (HON) to $133; Reiterates Outperform
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial 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
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- UPDATE: Honeywell (HON) Reports In-Line Q3 EPS; Issues Q4 EPS outlook
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
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!