In a report released yesterday, Ian Zaffino from Oppenheimer maintained a Buy rating on Resideo Technologies Inc (REZI), with a price target of $35. The company’s shares closed on Tuesday at $20.40, close to its 52-week low of $18.77.
Zaffino wrote:
“The most topical investor questions were: the environmental liability, a housing slowdown, capital allocation, the business rationale for ADI ownership, and the positioning/competiveness of the Products portfolio. Management suggested EBITDA could be 50% higher by 2023, as top line grows ~4% and margins accrete slightly through higher recurring revenues and a greater mix of Products sales (vs. Distribution). As one-timers roll off, 2021 FCF could be ~$2.44/share with an attractive FCF/EBITDA conversion ratio of ~53%.”
According to TipRanks.com, Zaffino is a 1-star analyst with an average return of -0.4% and a 48.9% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Resideo Technologies Inc with a $35 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $32.55 and a one-year low of $18.77. Currently, Resideo Technologies Inc has an average volume of 4.51M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Resideo Technologies, Inc. provides household security solutions. It distributes security and low voltage products. The company is headquartered in Morris Plains, NJ.
