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Goldman Raises Target for Honeywell Stock After $300 Million Refinery Deal

Guavy AI Editorial Team
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HON
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Honeywell International Inc., the conglomerate operating on NASDAQ under the ticker HON, has seen its stock price drop by 0.53% to EUR 189.15 as of October 2, 2026, at 4:36 p.m. CEST, according to Lang & Schwarz.

However, Goldman Sachs has raised its target for Honeywell's stock from USD 270 to USD 271 and maintained a Buy rating in light of the company winning a significant contract worth USD 300 million on Dangote's planned 700,000-barrel-per-day refinery in Kenya.

The deal involves supplying process technologies, licensing, engineering expertise, equipment, digital solutions, and catalysts for gasoline, diesel, jet fuel, and polypropylene production.

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