Wedbush Issues AYI 2Q11 Preview

Wedbush has issued a report on Acuity Brands' second quarter preview. Wedbush writes, "We forecast 2Q11 (Feb.) revenue/EPS of $412.7m/$0.55 vs. consensus estimates of $410.5m/$0.50. We include around $12m from the October 2010 acquisition of Winona in our forecast. Our 2Q11 estimates are above consensus as we expect a trailing benefit from Stimulus Plan energy efficiency spending, the Home Depot rollout, and Lighting Controls channel benefits." AYI has a Neutral Rating and a $46.00 Price Target. AYI closed at $56.14 on Friday.