From Earlier: Sterne Agee Raises Acuity Brands PT, Maintains Underperform

Sterne Agee raised its Acuity Brands AYI price target to $45 and maintained its company Underperform rating in a research report published today. In the report, Sterne Agee stated, "After underperforming the market since its Feb Qtr earnings announcement, the stock may retrace its losses after reporting strong operating leverage. Nevertheless, we believe Acuity will face longer-term margin headwinds in its transition to LED, which could slow earnings growth." Shares of Acuity Brands were trading at $59.90 at the time of posting, down 1.42 percent from Thursday's market close.