Canaccord Genuity Maintains a 'Buy' on Acuity Brands (AYI); Q3 Review

Canaccord Genuity maintains a 'Buy' on Acuity Brands (NYSE: AYI) price target of $81.00.

Analyst, Jonathan Dorsheimer, said, "Results were in-line to slightly better than published consensus, but considerably better than buy-side expectations given the recent sell-off on weak ABI trends and domestic/international policy/growth concerns...While the near-term end markets are likely to remain uncertain, Acuity continues to expand market share and bolster its product portfolio...Our longer-term thesis remains intact as well...We also believe recent M&A activity helps to justify the industry and valuation premium of this macro."

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 $58.97 yesterday.

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