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Benzinga
Benzinga
Business
Nabaparna Bhattacharya

Resideo Technologies Pops As Honeywell Indemnity Buyout Boosts Growth Story

HON Resideo Honeywell PS REZI Honeywell International Inc Nasdaq NYSE
Home Automation-Photo via Shutterstock

Resideo Technologies, Inc. (NYSE:REZI) ended its long-standing Honeywell International Inc. (NASDAQ: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.

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