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Fly News Breaks for February 15, 2017
AYI
Feb 15, 2017 | 07:13 EDT
After meeting with Acuity's (AYI) management, Wells Fargo says that the company expects to disclose "another Tier 3&4 solution customer similar in scope to Target (TGT)" this year. The firm notes that Acuity's mid-quarter channel checks on the company showed that its flow demand rebounded in January. The firm nevertheless sees "modest risk" to Q2 revenue, but it thinks that the company's revenue is poised to increase significantly in 2H17. Wells Fargo says that the stock will rise if the company reports in-line Q2 results, and it recommends buying the shares now.