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Fly News Breaks for October 16, 2019
AYI
Oct 16, 2019 | 07:18 EDT
As reported previously, Baird analyst Timothy Wojs downgraded Acuity Brands to Neutral from Outperform. The analyst cited the peer transaction multiple following the announced combination of ETN and LIGHT. He said the multiple is below expectations and makes a valuation argument harder to make and it may serve as a near term cap for Acuity Brands. Wojs lowered his price target to $126 from $148 on Acuity Brands.
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