Honeywell outperforms Dow, eyeing 3-day advance
BUZZ-Honeywell outperforms Dow, eyeing 3-day advance ** Shares of Honeywell International HON.O up 4.3% on Monday, with the stock one of the top gainers in the Dow Industrials .DJI and on track for its third straight day of gains after its investor meeting on Thursday and after it announced broad approval of aerospace business spinoff on Monday
** Honeywell shares last at $229.887 and eyeing a 3-day gain of nearly 12%
** Dow up 1.2% on the day and tracking for 3-day advance of nearly 4%
** Bank of America analyst Andrew Obin wrote on Monday that the co set a "relatively low bar and credible path" at its investor day
** Obin kept his 'underperform' rating cting "need for reinvestment" in the aerospace business and price objective of $205 for the stock
** But Obin wrote that HON is "positioning as a leading pure-play automation firm" citing its expected 6/29 aerospace spinoff
** YTD, HON shares up nearly 18% vs Dow's nearly 8% gain
** Median PT for HON is $240 according to LSEG, which shows 30 analyst ratings: 3 'strong buy,' 15 'buy,' 11 'hold,' 1 'sell'
(Reporting by Sinead Carew)