Honeywell Aerospace Stock Slumps as Price Forecast is Cut to $210

Honeywell Aerospace Inc (NASDAQ:HONA) shares declined on Thursday after Evercore ISI Group maintained an In-Line rating but lowered its price forecast to $210.

The company's stock dropped 20.43% to $162.04 by the time of publication, according to Benzinga Pro data.

Honeywell Aerospace reported revenue of $4.52 billion for the second quarter, up 5% year-over-year, and adjusted earnings of $1.87.

The company cut its full-year guidance due to supply chain constraints, citing a need to align its projections with its suppliers' demonstrated capabilities.