UPDATE: D.A. Davidson Reiterates Neutral Rating, Raises PT on Acuity Brands

In a report published Wednesday, D.A. Davidson & Co. reiterated its Neutral rating on Acuity Brands

, and raised its price target from $65.00 to $68.00. D.A. Davidson noted, “We are raising our price target to $68 from $65 previously as longer-term indicators of construction appear incrementally more positive, despite a near-term lull in demand. Acuity is positioning itself appropriately to offer a more complete lighting solutions package, providing new growth avenues. The company also offers strong leverage to a longer-term non-residential recovery, which we believe is still in the early stages.” Acuity Brands closed on Tuesday at $65.46.