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Jefferies repeats 'buy' on Honeywell as it plans spin-off

Last year, Honeywell approached United Technologies Corp (NYSE:UTX) to discuss a potential combination
Jefferies repeats 'buy' on Honeywell as it plans spin-off
Honeywell makes all sorts of goods, including plumbing parts

US broker Jefferies has repeated a 'buy' on engineering and aerospace group Honeywell International Inc (NYSE:HON) its turbochargers business, which produces components that improves the efficiency of vehicles.

Last year, Honeywell approached  United Technologies Corp (NYSE:UTX) to discuss a potential  combination but was refused In September this year, the latter struck a US$3bn agreement to buy avionics and interiors maker Rockwell Collins Inc.

Professional analysts at Jefferies now has a $155.0 PT on Honeywell International (NYSE:HON). Jefferies and their recent PT would indicate a potential upside of 7.92 % from the company’s last stock price. The rating has been shown in a research note on Tuesday Morning.

Honeywell shares added 0.38% in New York to stand at US$143.62 each. Jefferies price target is US$155 each.

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