Resideo Technologies Inc. (NYSE:REZI) is one of the 8 Hidden Multibagger Stocks to Buy Now.
On July 1, Jay Goldberg from Seaport Research started coverage of Resideo Technologies Inc. (NYSE:REZI) with a Buy rating and set a price target of $55
The firm’s assigned price target reflects an additional 76% upside from current levels. Despite weakness in the consumer electronics market, the firm believes two key developments will support the company’s growth. First is the renegotiated agreement with its parent company, which is expected to generate $140 million in additional annual cash flow.
Second, Resideo is preparing to spin off its lower-margin distribution business. According to the analyst, the company’s security and safety products are generally more resilient than other consumer products and tend to perform well even during slower housing markets. For fiscal year 2026, Resideo Technologies Inc. (NYSE:REZI) reaffirmed its outlook and provided ranges for the second quarter.