Mizuho Securities raised its Honeywell International price target from $240 to $480. The firm reiterated its outperform rating on the stock.
The revision follows Honeywell's completed spin-off of its Aerospace business. This strategic shift allows the company to focus on the industrial and automation sectors.
Mizuho’s new target implies a potential upside of over 112% from the stock's previous close. The valuation positions Mizuho as a notable outlier compared to the Wall Street consensus.