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Fly News Breaks for September 25, 2018
AYI
Sep 25, 2018 | 09:28 EDT
William Blair analyst Ryan Merkel says his firm's latest lighting survey shows distributors saw 5.1% growth this quarter, which slowed from 6.1% last quarter. Manufacturers reported 5.5% growth, up from 4.7% last quarter, and qualitative feedback suggests that the lighting market is stable to slightly improving, Merkel tells investors in a research note. He believes the near-term setup for Acuity Brands has improved. Acuity could deliver a solid quarter and estimates could rise 5%-10%, Merkel contends. He keeps a Market Perform rating on the name.
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