As previously reported, Wells Fargo analyst Richard Kwas upgraded Acuity Brands to Outperform from Market Perform in what he called a "tactical call," as he believes the next 2-3 quarters set up well for the company. Price increases are being implemented and year-over-year comps ease on a go forward basis, the analyst noted. Channel checks show September has gotten off to a good start and the company should beat Q4 consensus "handily," said Kwas, who also contends that FY19 estimates are too low. He raised his price target on Acuity shares to $187 from $140.