Morgan Stanley cut its price target for Honeywell International (HON) by 50%, lowering it to $245 from a previous $490. The firm maintained its "equal weight" rating on the industrial conglomerate's stock. The new target suggests a potential upside of just over 10% from the company's current trading price.
This move is a notable reversal of the bank's recent optimistic outlook. Just two weeks prior, on June 29, 2026, Morgan Stanley had doubled its price target on Honeywell, raising it from $245 to $490. The rapid walk-back to the original target follows a period of corporate restructuring for Honeywell, including the recent spinoff of its aerospace division.