Acuity Brands price target lowered to $290 from $336 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Acuity Brands (AYI) to $290 from $336 and keeps an Equal Weight rating on the shares. There will likely be higher than normal attention on Acuity Brands earnings, for insights on demand trends and stock reactions. The firm didn’t change estimates. Its view of risk is that it’s more relevant in the second half of the year, and it may be too early for guidance revisions.