Acuity Brands (AYI) PT Raised to $435 at Oppenheimer

Oppenheimer analyst Christopher Glynn raised the price target on Acuity Brands (NYSE: AYI) to $435.00 (from $380.00) while maintaining a Outperform rating.

The analyst comments "ABL continued to drive competitive separation into moderately pressured construction/renovation markets for lighting/controls, with +1% sales (vs. -1% estimate) depicting success in share gain and new vertical market targeting. AIS's distinctive portfolio technologies in advanced building controls/automation continue to engender demand creation/adoption into a healthy market (+204% sales; legacy Distech/Atrius +13% and QSC +15% y/y organic). AIS focus remains consolidation of data for built space, with market-leading platforms in AV automation (QSC) and BMS (lighting, climate, refrigeration) supporting hardware/software configurations for control and automation of built spaces, with a range of modular solutions configurable to each implementation. In India, AIS opened its first facility purposed for integrating the edge-to-cloud technologies across QSC/Distech/Atrius platforms, advancing and featuring interoperable solutions. FY25 QSC organic was +18%; Distech/Atrius +15%."

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