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Fly News Breaks for June 6, 2017
AYI
Jun 6, 2017 | 10:23 EDT
Shares of Acuity Brands are rising in early trading after Wells Fargo analyst Richard Kwas reported in a pre-open note to investors that the firm's channel checks revealed that agents and distributors are seeing better year-over-year growth in the second quarter than they did in the first three months of the year. Ahead of the company's earnings report on June 29, Kwas contends that the consensus revenue forecast "looks beatable" and he raised his price target on Acuity to $200 from $196. Kwas maintains an Outperform rating on the stock, which is up $3.85, or 2.3%, to $172.01 in morning trading.