** 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))
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