BMO initiates coverage on Honeywell Aerospace with 'outperform' rating
BUZZ-BMO initiates coverage on Honeywell Aerospace with 'outperform' rating ** BMO initiates coverage on Honeywell Aerospace HONA.O with a price target of $276 and "outperform" rating
** PT represents a ~21% upside to stock's last close
** Brokerage views supply-chain improvements and management execution as key catalysts
** Adds if these materialize, HONA's 6%–8% organic growth and 9% adj. EBIT growth targets may be conservative, supporting further share price re-rating
** BMO sees the targets as attainable and is optimistic about multiple growth drivers beneath the surface, though it may take several strong quarters to bring investors on board
** Honeywell Aerospace spun out of Honeywell International HON.O on Monday
(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))
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