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Benzinga

Business

Nabaparna Bhattacharya

UNCOVERED: Resideo technologies pops as honeywell indemnity buyout boosts growth story - Caught on Camera

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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