UBS lowered the firm’s price target on Honeywell to $175 from $180 and keeps a Sell rating on the shares. The firm continues to think “the bar is being set too high” and that short cycle risk is “not over yet.” Honeywell has generated “worst in class organic growth” over 2020-2023, added the analyst, who is now applying a lower multiple for lower growth and “still” modeling EPS below consensus.
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