Honeywell price target lowered to $244 from $248 at Citi

Citi analyst Andrew Kaplowitz lowered the firm’s price target on Honeywell (HON) to $244 from $248 and keeps a Buy rating on the shares post the Q3 report. The firm says “less encouraging” demand trends across Honeywell’s select end markets weighed on the shares post earnings. However, the company’s continued focus on growth initiatives and portfolio optimization optionality should, over time, support its longer-term sales growth target, the analyst tells investors in a research note.