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


In a report released today, Ian Zaffino from Oppenheimer maintained a Buy rating on Resideo Technologies Inc (REZI), with a price target of $30. The company’s shares opened today at $21.

Zaffino wrote:

“4Q18 revenues/EBITDA of $1,266M/$136M were better than our $1,249M/$132M estimates. However, the 2019 EBITDA guide of $410-430M was lower than our $504M forecast. The 4Q18 beat was helped by strength at ADI and solid Products growth. However, the company tempered its 2019 outlook with a bigger push into connected devices (security and Comfort and Care) as well as moderated outlook for housing and repair & remodel. As a result, we lower 2019E EBITDA to $420M, from $504M. Maintain Outperform and lower price target to $30 from $35.”

According to TipRanks.com, Zaffino is a 3-star analyst with an average return of 1.6% and a 52.7% 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 $30.

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Based on Resideo Technologies Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.2 billion and net profit of $311 million. In comparison, last year the company earned revenue of $1.15 billion and had a net profit of $23 million.

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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.