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Honeywell Technologies ($OP) received a price target increase after the industrial automation company delivered a strong quarter and raised its guidance, the analyst note showed.
Shares bucked a broader market selloff in the wake of the results. Spinoff drives the revised view The price target revision reflects post-spinoff optimism, according to the note.
Honeywell Technologies now operates as a standalone industrial automation company, and the note framed the target increase primarily around that structural change.
Analysts named the spinoff directly as the basis for their revised view, treating it as distinct from, though reinforced by, the quarterly results.
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