Honeywell Holds Investor Day Before June 29 Breakup, With 50-Point Upside Seen
Updated
Updated · CNBC · Jun 11
Honeywell Holds Investor Day Before June 29 Breakup, With 50-Point Upside Seen
3 articles · Updated · CNBC · Jun 11
Summary
Honeywell held an investor day Thursday ahead of its June 29 split into separate aerospace and automation businesses, putting the planned breakup at the center of its message to investors.
June 29 is the target date for the separation, which is meant to let investors value the two businesses independently rather than inside the current conglomerate structure.
Automation drew the strongest bullish case, with Jim Cramer arguing the market is underestimating its total addressable market and the long-term value the standalone unit could command.
50 points of upside could emerge after the restructuring, he said, even as he warned of near-term volatility and "grave dislocations" around the separation that he would treat as a buying opportunity.