Resideo price target lowered to $19 from $29 at Morgan Stanley

Morgan Stanley analyst Erik Woodring lowered the firm’s price target on Resideo (REZI) to $19 from $29 and keeps an Equal Weight rating on the shares. Among the firm’s IT Hardware coverage, the analyst reduced FY25 and FY26 EPS estimates by 15%-18% and price targets by 30% on average to account for slowing growth and higher tariffs.