KeyBanc Upgrades Acuity Brands (AYI) to Buy; LED Momentum

KeyBanc upgraded Acuity Brands (NYSE: AYI) to Buy.

KeyBanc analyst says, "LED upgrade cycle to drive superior returns: Following better than feared results and improved LED lighting trends (up 4x year-over-year; margins to be in line with corporate average by year-end), we are upgrading shares to BUY. The confluence of an increasingly stringent regulatory environment, Acuity's recent push into the retrofit market and new technological advancements (LEDs, controls, etc.) should enable the Company to experience organic growth rates well in excess of its peers. Further, if the macroeconomic environment were to deteriorate, AYI's earnings should prove more resilient than its peers given: 1) the already depressed state of the non-residential construction market; 2) the tailwinds from LEDs; and 3) AYI's highly variable operating model."

For more ratings news on Acuity Brands click here and for the rating history of Acuity Brands click here.

Shares of Acuity Brands closed at $39.95 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
• SanDisk upgraded at JPMorgan after investor day; shares climb