Canaccord Genuity Reiterates a 'Buy' on Acuity Brands (AYI); Sentiment Improving
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Price: $342.65 +0.29%
Rating Summary:
12 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Acuity Brands (NYSE: AYI) price target raised from $63 to $81.
Analyst, Jonathan Dorsheimer, said, "We are raising our numbers and price target on AYI given an improving macro and, perhaps more importantly, market sentiment...We believe that the continued availability of credit, low core inflation and reasonable market valuations will continue to take stocks higher this year. After meeting with investors around the country, we feel that now more than ever, high-quality mid-cap companies with a solid record of execution will lead this surge."
"We have written that when fundamentals fall into place, the company’s earnings power could reach over $4.00 per share, and that investors will be willing to pay up for quality earnings. With visibility into these factors improving, we are able to confidently raise our 2013 estimates as well as the company’s expected multiple."
For an analyst ratings summary and ratings history on Acuity Brands click here. For more ratings news on Acuity Brands click here.
Shares of Acuity Brands closed at $64.07 yesterday.
Analyst, Jonathan Dorsheimer, said, "We are raising our numbers and price target on AYI given an improving macro and, perhaps more importantly, market sentiment...We believe that the continued availability of credit, low core inflation and reasonable market valuations will continue to take stocks higher this year. After meeting with investors around the country, we feel that now more than ever, high-quality mid-cap companies with a solid record of execution will lead this surge."
"We have written that when fundamentals fall into place, the company’s earnings power could reach over $4.00 per share, and that investors will be willing to pay up for quality earnings. With visibility into these factors improving, we are able to confidently raise our 2013 estimates as well as the company’s expected multiple."
For an analyst ratings summary and ratings history on Acuity Brands click here. For more ratings news on Acuity Brands click here.
Shares of Acuity Brands closed at $64.07 yesterday.
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