Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Acuity Brands (AYI) to $336 from $320 and keeps an Equal Weight rating on the shares. The company reported an “encouraging quarter” with Brands Lighting and Controls demand better than anticipated and strong gross margin, the analyst tells investors in a research note. The firm says that despite mixed industry data, management expects 2025 to be stronger than 2024. Wells views the Q1 report as solid and increased estimates to reflect the QSC deal.
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