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Fly News Breaks for October 3, 2019
AYI
Oct 3, 2019 | 07:00 EDT
Credit Suisse analyst John Walsh lowered his price target for Acuity Brands to $140 from $154 following quarterly results. While the analyst acknowledges that volumes were lower than expected, he notes that gross margin and free cash flow surprised to the upside. Further, Walsh expects minimal revisions to consensus estimates based on management commentary and The Luminaires Group accretion. He reiterates an Outperform rating on the shares.
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