Honeywell price target lowered to $253 from $254 at RBC Capital

RBC Capital analyst Deane Dray lowered the firm’s price target on Honeywell (HON) to $253 from $254 and keeps a Sector Perform rating on the shares. Honeywell posted a modest Q2 operating beat, with organic revenue upside across all segments but Aero, but shares underperformed despite a beat-and-raise quarter, the analyst tells investors in a research note. With M&A and portfolio moves on hold and/or completed, shares may remain range-bound in the near-term, RBC says.