Bombardier Inc

OTCQX International:BDRAFUnited StatesView on Canadian Exchange

1249 ET - Honeywell's partnership with Bombardier promises to deliver the next generation of aviation technology, with the industrial conglomerate estimating the agreement will provide up to $17 billion in revenue over its life thanks to after-market offerings and new technologies. "While this sounds big, details are light and the economics of this agreement are difficult to ascertain," UBS analysts say in a research note. The only immediate effect, they say, is a cut to the company's near-term earnings expectations. The analysts also they don't see the announcement as "having meaningful implications for the outlook for shares, nor the strategic direction of the company towards more active portfolio management," adding that the lowered outlook is especially unfortunate given recent underperformance. Shares fall 2% to $225.67. (connor.hart@wsj.com)