** Smart home solution provider Resideo Technologies REZI.N shares rise ~12.4% to $30.89

** Morgan Stanley upgrades REZI to "overweight" from "equal-weight" rating on co's strong Q2 performance and cancellation of its indemnification agreement

** Brokerage says cancellation of the longstanding, and complex, Honeywell indemnification agreement has removed a structural impediment for investors and catalyzed a clear path to earnings power

** Brokerage raises PT to $35, a ~27.5% upside on stock's last close

** Including session's moves, stock up ~34.4% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))