J.P. Morgan Upgrades Honeywell to Overweight, Raises Price Target to $255

Honeywell's stock rose 2.1% on Friday after J.P. Morgan upgraded shares to Overweight from Neutral with a $255 price target, raised from $218. The upgrade was based on a "disconnect" to asset value, with Honeywell's stock trading at a discount to a sum-of-the-parts valuation. Meanwhile, 3M was downgraded to Underweight from Neutral with a $130 price target.