Honeywell Price Targets Raised to $292 and $245 Following Aerospace Spin-Off Filing
Deutsche Bank raised its Honeywell price target to $292 from $273 with a Buy rating, and Jefferies lifted its objective to $245 from $240 after the company filed its Form 10 for a Q3 Honeywell Aerospace spin-off. It forecasts Aerospace sales of $17.4 billion, $1.5 billion income and $4.3 billion EBIT in 2025.
1. Analyst Price Target Upgrades
Deutsche Bank increased its Honeywell price target to $292 from $273 and maintained a Buy rating, while Jefferies lifted its objective to $245 from $240 and kept a Hold rating.
2. Form 10 Spin-Off Filing
On March 3, Honeywell filed its Form 10 registration statement for the planned spin-off of its aerospace business in the third quarter, signalling the new entity will trade on Nasdaq under “HONA.”
3. Aerospace Unit Financial Projections
The registration statement projects that Honeywell Aerospace will generate approximately $17.4 billion in net sales, $1.5 billion in net income and $4.3 billion in adjusted EBIT for 2025, operating across Electronic Solutions, Engines & Power Systems and Control Systems.