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Fly News Breaks for January 10, 2017
AYI
Jan 10, 2017 | 08:22 EDT
As previously reported, Baird analyst Timothy Wojs upgraded Acuity Brands to Outperform from Neutral. The analyst noted Q1 earnings were below expectations but he believes concerns surrounding slower growth are now better reflected in expectations and estimates. He said the long-term secular growth story remains intact, the company has considerable balance sheet flexibility, and the valuation is at three-year lows. Wojs lowered his price target to $242 from $265 on Acuity Brands shares.
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