Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Acuity Brands (AYI) to $370 from $385 and keeps an Overweight rating on the shares. The firm is tweaking estimates down as nonresidential activity remains pressured, and uncertainty headwinds persist in project activity. Wells still sees compelling upside as nonresidential recovers, along with second half of the year seasonal lift.
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