DA Davidson Starts Acuity Brands (AYI) at Neutral; Yield to Valuation Given Multiple Premium

DA Davidson initiates coverage on Acuity Brands (NYSE: AYI) with a Neutral. PT $62.00.

Analyst, Brent Thielman, said, "Acuity’s shares trade at a modest premium to historical average multiples and its closest public peers. The company is an industry leader in lighting for non-residential construction, a market we believe is entering a phase of recovery following a multi-year downturn. Growth in newer product categories such as LEDs and lighting controls offers exciting long-term prospects, although it also offers near-term risk as the company invests heavily."

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 $56.62 yesterday.

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