Resideo Technologies Inc. (NYSE:REZI) is considered one of the best industrial stocks to buy by Wall Street analysts, with a Moderate Buy rating and a $44 average target, suggesting a 30.45% upside potential. The company recently unveiled the Honeywell Home X8S Smart Thermostat with live video streaming capability for $219.99.

At the Baird Global Industrial Conference, Resideo Technologies shared plans to separate the Products and Solutions unit from the ADI distribution business to provide investors with a clearer view of each operation. Despite short-term pressures from the new ERP system at ADI, Resideo posted $7.5 billion in revenue and a 10.5% adjusted EBITDA margin over the past year.

The company remains optimistic about growth in non-HVAC products, the launch of the Elite Pro thermostat, and ADI’s margin goals following the Snap One deal. Resideo anticipates mid-single-digit revenue growth and improved margins over the next few years, supported by business separation, supply chain enhancements, new products, and a strong balance sheet.

Resideo Technologies, Inc. (NYSE:REZI) specializes in smart home technology, offering products for comfort, energy management, and safety like thermostats, security systems, and water management. Additionally, the company operates ADI Global Distribution, a major wholesale distributor of security, fire, and low-voltage products worldwide.

Read more at Yahoo Finance: Resideo Technologies Inc. (REZI) Unveils Honeywell Home X8S Smart Thermostat with Live Video Streaming Capability