Honeywell downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Honeywell to Neutral from Overweight with a price target of $235, up from $225. The firm is concerned that the company’s refreshed focus on organic growth, which it expects to “pay off somewhat” in 2025, may not fall to the bottom line as expected, with a trade-off that is balanced against margins. In addition, with Honeywell’s “divestitures now taking center stage, it appears as though while portfolio management will likely mix the company to higher quality metrics, the dilution is a cost that breaks the near term consensus earnings curve,” the analyst tells investors in a research note.