RBC Capital raised the firm’s price target on Honeywell to $222 from $209 but keeps a Sector Perform rating on the shares. The new CEO Vimal Kapur’s vision for Honeywell includes a decided emphasis on revving-up growth, margins, digital, and sustainability, but nothing in the game plan sounds “seismic”, the analyst tells investors in a research note. RBC adds that following the spins of Garrett and Resideo in late-2018, it sees Honeywell as having emerged as a higher-margin, more focused, and less cyclical industrial power house.
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