UPDATE: Piper Jaffray Initiates Coverage on Acuity Brands
According to a research report published earlier today, Piper Jaffray has initiated Acuity Brands (NYSE: AYI) with an Overweight rating and $66 PT.
In the report, Piper Jaffray commented, “AYI is a top 4 lighting company in North America with estimated 17% share. Given its strong market leadership position, we believe AYI is uniquely positioned to benefit from energy efficient lighting growth over the next 5 years.”
Acuity Brands is currently trading at $56.76.
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