Wedbush Morgan Upgrades Acuity Brands (AYI) to Outperform; Improving Fundamental Outlook
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Wedbush Morgan upgrades Acuity Brands (NYSE: AYI) from Neutral to Outperform. Price target increased from $35 to $43.
Wedbush analyst says, "Raising FY10 estimates for revenue from residential and energy efficiency. Around $22M of remaining savings from prior restructuring supports our FY10 EPS estimates. We believe Acuity’s view of (15%) FY10 construction market growth omits benefits from residential growth, management’s expectations of share gains, or any Stimulus impact."
To see more analyst ratings on AYI Click Here.
Acuity Brands, Inc., through its subsidiaries, engages in the design, production, and distribution of lighting fixtures, and related products and services in North America and internationally.
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