Honeywell’s upcoming aerospace separation and lower stranded costs drive Goldman Sachs to raise its price target by $18.
Goldman Sachs increased its price target for Honeywell International Inc. (NASDAQ:HON) to $276 from $258 and maintained a Buy rating. The adjustment follows Honeywell’s scheduled aerospace spin-off on June 29, which will create two separate entities: Honeywell Technologies and HONA for aerospace.
The analyst cited lower-than-expected stranded costs, upcoming investor events, and Quantinuum’s IPO filing as key catalysts. Barclays previously raised its target to $251 from $243, highlighting 10% to 15% upside potential ahead of the spin-offs.
Honeywell’s restructuring includes broader efforts to streamline operations, supported by its Honeywell Accelerator and Honeywell Forge platforms.