$HONA

Citi upgraded Flutter (FLUT) to Buy with a $91 target. Cantor upgraded Humana (HUM) to Overweight with a $460 target. TD Cowen upgraded Marvell (MRVL) to Buy with a $350 target. Evercore upgraded NetApp (NTAP) to Outperform with a $300 target. Citi upgraded XPO (XPO) to Buy with a $224 target. UBS downgraded AppFolio (APPF) to Neutral with a $220 target. William Blair downgraded Option Care Health (OPCH) after its acquisition by CD&R and McKesson (MCK).

Wall Street analysts issued upgrades, downgrades, and initiations for several companies. Notable upgrades include Marvell (MRVL) to Buy with a $350 target and NetApp (NTAP) to Outperform with a $300 target. Downgrades include AppFolio (APPF) to Neutral with a $220 target. Initiations include Abbott Laboratories (ABT) with an Overweight rating and $120 target. Major indices closed at record highs, with the S&P 500 at 7,818 and Nasdaq at 27,599.

Goldman Sachs initiated Honeywell Aerospace (HONA) with a Neutral rating and $190 target, citing slower growth than peers but long-term potential. The stock trades at $157.39, near its 52-week low. Morgan Stanley upgraded HONA to Overweight with a $205 target, while BMO Capital lowered its target to $209. The company secured a $53.9M contract for Navy navigation systems.

Honeywell Aerospace and Phoenix are testing SURF-A tech to prevent ground collisions at airports. The GPS-based system alerts drivers and pilots of potential collisions 7-10 seconds earlier than air traffic control. Testing begins this month at Phoenix airports, with results expected by year-end. The project was inspired by a recent collision at LaGuardia.

Honeywell has split into three companies: Solstice Advanced Materials, Honeywell Technologies, and Honeywell Aerospace. Honeywell Aerospace, focusing on aerospace systems, reported Q2 sales of $4.5B, up 5% YoY, but EPS down 32% due to spinoff costs. Its backlog is $18.1B, with significant new contracts. The stock is down 18% since spinoff, with revised sales growth guidance of 4-5%.

Honeywell Aerospace sued Rivian and Lucid for patent infringement, alleging Rivian's EVs infringe seven aircraft-related patents. Honeywell seeks damages, injunctions, and attorneys' fees. Both cases were filed on the same day, with Honeywell requesting jury trials. Honeywell Aerospace is a publicly traded company listed on Nasdaq as HONA.

Honeywell Aerospace is being sued by investors for allegedly not disclosing a federal investigation that resulted in a $2M settlement with the DOJ. The suit claims the company did not inform shareholders about the probe, which could impact its financials and reputation.

Honeywell Aerospace and two executives are accused of misleading investors about supply chain issues and a federal cybersecurity investigation. The lawsuit claims the company hid supplier constraints and a potential False Claims Act violation related to a Defense Department contract.

Honeywell Aerospace sued Rivian in Arizona federal court for alleged patent infringement of seven vehicle technologies, including safety monitoring and autonomous navigation. Honeywell seeks damages, an injunction, and a jury trial. Rivian shares fell 1.5% to $14.91, with a $22B market cap.

Honeywell Aerospace (HON) signed a 3-year deal with Garuda Indonesia to maintain APUs across its fleet. The agreement aims to improve maintenance planning and cost predictability for the airline. Honeywell's global network supports ongoing repair and overhaul services. Garuda Indonesia seeks to enhance operational reliability and aircraft readiness.