Resideo Technologies Pops As Honeywell Indemnity Buyout Boosts Growth Story

Resideo Technologies, Inc. REZI ended its long-standing Honeywell International Inc. HON indemnification with a $1.59 billion buyout, removing a major overhang and clearing the way for cleaner earnings and an ADI Global separation.Morgan Stanley analyst Erik W Woodring upgraded Resideo from Equal-weight to Overweight, raising the price forecast from $24 to $35.Woodring laid out a three-part case. The analyst said Resideo continues to execute, with second quarter above the high end of guidance, the strongest ...