Wedbush Morgan Upgrades Acuity Brands (AYI) to Outperform; Improving Fundamental Outlook
AYI Hot Sheet
Rating Summary:4 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
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.
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.
You May Also Be Interested In
- UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
- UPDATE: Nomura Securities Upgrades Central European Distribution (CEDC) to Neutral; Strategic Alliance with Russian Standard
- Barclays on U.S. REITs: Best Ideas List: Adding HPP; Removing ARE
Create E-mail Alert Related Categories
UpgradesRelated Entities
Wedbush MorganSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
