** Jefferies raises HoneywellHON.O price target to $240 from $235, an upside of 6.1% to the stock's last close
** Brokerage expects co to complete spin-off of aerospace technology business by second half of 2026
** Says aerospace technology business is expected to be the primary growth engine for the co in 2025 and beyond
** Adds that aerospace technology growth primarily driven by ramped up original equipment cycle, ongoing resilience in aftermarket and steady gains in defense
** Jefferies notes co's commercial original equipment performance had been weak due to lower production at Boeing BA.N and Airbus AIR.PA, along with delays in ramping up the 737 MAX after its early 2024 grounding and a strike in late 2024, but its' now starting to recover driven by rebounding aircraft deliveries
** However, cuts 2025 adj EPS forecast to 10.30 from 10.35
** 15 of 27 brokerages rate the stock "buy" or higher, 12 "hold"; their median PT is $240- data compiled by LSEG
** As of last close, stock had risen marginally 0.2% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.