Oppenheimer Keeps Their Buy Rating on Resideo Technologies Inc (REZI)

By Carrie Williams

Oppenheimer analyst Ian Zaffino maintained a Buy rating on Resideo Technologies Inc (REZIResearch Report) yesterday and set a price target of $35. The company’s shares closed yesterday at $21.26, close to its 52-week low of $19.31.

Zaffino noted:

“Helped by solid growth at ADI, Resideo reported revenues of $1,200M vs. our $1,193M (despite spin-related supply chain issues in Products). EBITDA of $110M declined $3M YoY, owing to $7M of spin-related costs. Full-year guidance was raised to the high-end of the range, and the company reiterated its 2019 outlook, as it is leveraged significantly more to repair/remodel vs. new housing. Raise FY18E adjusted EBITDA to $472M from $470M. Maintain Outperform.”

According to TipRanks.com, Zaffino is a 2-star analyst with an average return of 0.4% and a 49.6% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.

Currently, the analyst consensus on Resideo Technologies Inc is a Moderate Buy with an average price target of $35.

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The company has a one-year high of $32.55 and a one-year low of $19.31. Currently, Resideo Technologies Inc has an average volume of 7.4M.

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Resideo Technologies, Inc. provides household security solutions. It distributes security and low voltage products. The company is headquartered in Morris Plains, NJ.