Honeywell rises; RBC upgrades to 'outperform', lifts PT

Shares of industrial conglomerate Honeywell International HON.O up nearly 1% at about $218 premarket

RBC upgrades rating to "outperform" from "sector perform", hikes PT to $253 from $235

New PT implies a premium of 17% from the stock's last close

RBC upgraded co as its strong Q3 and upcoming business separation signal a clear path to unlocking shareholder value

Honeywell's planned split and Solstice separation are setting the stage for investors to benefit from clearer business focus and potentially higher valuations for each standalone unit - RBC

18 of 28 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $247.69 - data compiled by LSEG

Stock down 4.3% YTD, as of last close