Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Acuity Brands to $305 from $289 and keeps an Equal Weight rating on the shares. The firm notes the company sees setup for strong 2025 as agents/distributors busy with project funnel building but projects not yet releasing. Furthermore, medium term target for ABL margins of +50-100bps/year equals better margin potential than expected, Wells adds.
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