Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Honeywell (HON) to $254 from $215 and keeps an Equal Weight rating on the shares. The firm is encouraged by Elliott’s letter to Honeywell’s Board and the potential for larger portfolio moves. But time for the Board to deliberate and any subsequent actions to be taken likely means 2026 before any potential spins, Wells adds.
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