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Fly News Breaks for October 4, 2018
AYI
Oct 4, 2018 | 07:26 EDT
JMP Securities analyst Joseph Osha said the $20 selloff in Acuity Brands shares presents investors with an opportunity to invest at an attractive valuation, noting that the gross margin erosion has been counteracted by the company's ability to hold down operating costs, at least for now. He also notes that the company has taken two price hikes since the summer and plans another 6-10% increase to be implemented in mid-October. Osha maintains an Outperform rating and $170 price target on Acuity shares.
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