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Fly News Breaks for January 4, 2019
HON
Jan 4, 2019 | 08:14 EDT
As noted earlier, RBC Capital analyst Deane Dray upgraded Honeywell to Outperform with an unchanged price target of $148, saying the company looks to be benefiting from the re-rating that follows the Garrett/Resideo spins. Dray states that "RemainCo" has "higher profitability, dampened cyclicality, stronger balance sheet, reduced legacy environmental/asbestos liabilities, and undivided attention on its core businesses" and expects investors to reflect the shift of the company up the "quality curve".
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