Acuity Brands price target lowered to $335 from $370 at Morgan Stanley

Morgan Stanley analyst Christopher Snyder lowered the firm’s price target on Acuity Brands (AYI) to $335 from $370 and keeps an Overweight rating on the shares. The firm has updated its FY25 and FY26 EPS estimates to $20.03 and $21.87, respectively, to reflect the impact of QSC integration and tariffs on both growth and gross margins, the analyst tells investors. The firm adds that Trump’s “Liberation Day” tariffs “brought competitive tailwinds for AYI and CEO Neil Ashe has built a track record of capitalizing on opportunity.”