Form 144 HONEYWELL INTERNATIONAL Filed by: DAVIS D SCOTT

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Barclays on Honeywell International (HON) and Elliot Report: 'Activist involvement not a surprise'

November 12, 2024 10:52 AM EST

Barclays analyst Julian Mitchell reiterated an Overweight rating and $229.00 price target on Honeywell International (NASDAQ: HON).

The analyst comments "Following press reports (see here) that Elliott has taken a $5bn stake in HON (this has been confirmed in a letter from Elliott), we provide an update on our SoTPs below. These on average yield a share price of $251, with a FCF SoTP of $267. We do not think this news is a surprise (we do not think HON will be surprised either), as: 1. We had highlighted in our post-Q3 HON report that... More