RBC Capital lowered the firm’s price target on Honeywell (HON) to $218 from $222 and keeps a Sector Perform rating on the shares. The firm is updating its model after the company announced the closing of the $4.95B Global Access Solutions deal from Carrier Global (CARR), the updated guidance for the deal, and announced its move to cash EPS, the analyst tells investors in a research note. The acquisition should be neutral to cash EPS in 2024, and Honeywell’s move to cash EPS brings its reporting in-line with peers, the firm added.
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Read More on HON:
- Honeywell Completes Acquisition, Updates 2024 Outlook
- Carrier completes Global Access Solutions sale, to resume share repurchases
- Honeywell raises Q2 adjusted EPS view to $2.35-$2.45 from $2.25-$2.35
- Honeywell raises FY24 adjusted EPS view to $10.15-$10.45 from $9.80-$10.10
- HONEYWELL COMPLETES ACQUISITION OF CARRIER’S GLOBAL ACCESS SOLUTIONS BUSINESS AND UPDATES 2024 OUTLOOK