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Fly News Breaks for April 2, 2018
AYI
Apr 2, 2018 | 08:24 EDT
Roth Capital analyst Craig Irwin lowered his price target for Acuity Brands to $105 from $130 after Q1, the company's worst quarter since the Great Recession. The analyst remains cautious on rebounding growth, as past volumes benefited from an aggressive acquisition program, and a Y2-Y5 acquisition growth tail that has clearly disappeared. Fresh headwinds come from a Trump infrastructure plan, and surging T-LED bulb sales, he adds. Irwin reiterates a Sell rating on the shares.
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