Honeywell paid “reasonable’ price for Catalyst Technologies, says Barclays

Barclays analyst Julian Mitchell says Honeywell’s (HON) acquisition of Johnson Matthey’s Catalyst Technologies business was done at a “reasonable” price. The transaction multiple does not appear unreasonable from a Honeywell shareholder perspective, the analyst tells investors in a research note. Barclays believes its sum-of-the-parts valuation for Honeywell “looks very reasonable in light of this transaction multiple.” The firm keeps an Overweight rating on the shares with a $243 price target