Acuity Brands price target lowered to $335 from $390 at TD Cowen

TD Cowen lowered the firm’s price target on Acuity Brands (AYI) to $335 from $390 and keeps a Buy rating on the shares. The company posted solid Q2 results while maintaining FY26 guidance, though revenue estimates will come down due to lowered Acuity Brands Lighting guidance, the analyst tells investors in a research note. The firm noted that management is getting ahead of the challenges by restructuring, increasing automation, and strategically sourcing components, while generating solid cash flow and buying back stock.