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Fly News Breaks for October 5, 2016
AYI
Oct 5, 2016 | 14:18 EDT
Roth Capital analyst Craig Irwin lowered his price target for Acuity Brands to $250 from $275 after the company posted Q4 "disappointing" results, delivering revenue and adjusted EPS below his estimates. The analyst says the company stated revenue was impacted by $25M due to a labor shortage as it took actions to streamline its supply chain, and notes Acuity Brands' commentary for fiscal 2017 remains optimistic. He reiterates a Neutral rating on the shares.
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