Wolfe Research analyst Nigel Coe downgrades $Honeywell (HON.US)$ to a hold rating, and adjusts the target price from $228 to $266.
According to TipRanks data, the analyst has a success rate of 55.7% and a total average return of 8.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Honeywell (HON.US)$'s main analysts recently are as follows:
Honeywell's Q3 report underperformed expectations, particularly following previous indications of operating at the higher end of projections for Q3 and the management's previous optimism regarding trends leading into 2025.
Diminished demand trends in certain end markets of Honeywell following the Q3 report have exerted pressure on the stock. Nonetheless, the company's persistent dedication to growth endeavors and the potential for portfolio refinement are anticipated to bolster its long-term sales growth objectives.
The company's aspiration to achieve 10% earnings growth, which aligns with the midpoint of its projected 8-12% through-cycle growth, appears challenging to attain by 2025. Nevertheless, a recalibration of expectations amongst market analysts is anticipated.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
