Oppenheimer Sticks to Its Buy Rating for Resideo Technologies Inc (REZI)

By Austin Angelo

Oppenheimer analyst Ian Zaffino maintained a Buy rating on Resideo Technologies Inc (REZIResearch Report) on April 18 and set a price target of $30. The company’s shares closed on Thursday at $20.66.

Zaffino said:

“Owing to a higher expected tax rate, we lower our FY2019 adjusted EPS to $1.08, from $1.18. We now assume a 35% tax rate, vs. 32% originally, owing to higher non-deductible environmental expense. Our FY2019E EBITDA is unchanged at $560M excluding indemnification and $420M including indemnification. Our FY2020E EPS is now $1.65, vs. $1.78. FY20E EBITDA is unchanged at $657M excluding indemnification and $517M including indemnification. Maintain Outperform.”

According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.3% and a 55.1% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.

Resideo Technologies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $27.

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Resideo Technologies Inc’s market cap is currently $2.53B and has a P/E ratio of 6.28. The company has a Price to Book ratio of 1.65.

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Resideo Technologies, Inc. provides critical comfort, residential thermal solutions and security solutions primarily in residential environments. It operates through the following segments: Products & Solutions and Global Distribution. The products and Solutions Segment is separated into Comfort, Residential Thermal Solutions (RTS) and Security.