** Argus Research initiates coverage on Honeywell Aerospace HONA.O with a "buy" rating

** The research firm says favorable trends in the aerospace and defense industry position the company for continued growth and market share gains

** HONA's systems are widely adopted across the aerospace industry, with installations on about 90% of aircraft currently in operation, supporting a durable competitive advantage - Argus Research

** The company manufactures and supplies aircraft engines, components and systems for commercial aviation, defense and space applications

** Shares are volatile in early trading

** Including session's moves, shares up 13.9% YTD