Acuity Brands price target raised to $289 from $260 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Acuity Brands to $289 from $260 and keeps an Equal Weight rating on the shares. The firm sees a positive setup into Q4 results and the initial 2025 guide. Nonetheless, Wells stays on the sidelines given cash build, election uncertainty and mixed nonres data points.