Honeywell: shares up as BofA is more optimistic

Published: 2025-05-07 11:00:16 ET HON

Published on 05/07/2025 at 11:00

Honeywell shares were up on the Dow Jones on Wednesday morning on the New York Stock Exchange, with BofA believing that the US industrial group has entered a more favorable momentum in terms of its earnings forecasts.The investment bank noted that the high-performance materials and aerospace components manufacturer's stock had recently underperformed due to downward revisions in market earnings estimates following disappointing financial results.The New York-based firm believes that the group has now entered a more positive phase, marked by a stabilization of its results, a phenomenon that, in its view, should enable it to catch up in terms of valuation.BofA is therefore raising its recommendation on the stock from "neutral" to "buy," with a target price raised from $210 to $250.At the end of the morning, Honeywell shares were up nearly 2%, compared with a gain of around 0.4% for the Dow Jones index.Copyright (c) 2025 CercleFinance.com. All rights reserved.