BUZZ-Honeywell rises after BofA upgrades rating on Q1 earnings

Reuters
05-07
BUZZ-Honeywell rises after BofA upgrades rating on Q1 earnings

** Industrial and aerospace company Honeywell's shares HON.O rise 2.3% to $214.80 premarket

** BofA lifts rating to "buy" from "neutral" following HON's "solid, beat-and-raise 1Q25 earnings"

** Lifts PT to $250 from $210, a 19% upside to the stock's last close

** "As we believe earnings have now stabilized, we believe the company can start to close some of the valuation gap vs peers" - BofA

** Last week, HON raised its 2025 profit forecast despite flagging a $500 million exposure to tariffs, saying it aims to cushion the impact through a mix of higher pricing and local sourcing

** Three of 27 brokerages rate the stock "strong buy", 11 "buy" and 13 "hold"; their median PT is $230 - LSEG-compiled data

** As of last close, stock had fallen 7.1% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))

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