Honeywell price target lowered to $231 from $236 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Honeywell (HON) to $231 from $236 and keeps a Buy rating on the shares. The firm is updating its model after the company announced it was separating into three businesses: Honeywell Automation, Honeywell Aerospace, and Advanced Materials, the analyst tells investors in a research note. The firm adds that while it remains constructive on the longer-term outlook, shares are unlikely to outperform materially in the near-term until growth accelerates or additional M&A catalysts/portfolio actions take shape.