Acuity Brands price target lowered to $156 from $172 at Canaccord Canaccord lowered its price target on Acuity Brands to $156 from $172 following its Q3 results. However, the firm believes the company remains the best positioned in their coverage group to deliver sales and earnings upside over the next 3-5 years and keeps its Buy rating on the stock.
Cree says LED lighting market still in early stages Cree (CREE) CEO Chuck Swoboda said in the company's earnings release, "We made solid progress in Q2 with operating margin higher than targeted due to an improvement in gross margins in our lighting business. The market for LED lighting is still in the early stages, our new product pipeline is strong, sales momentum is building and our brand is growing in the market. As evidenced by our significant share repurchases in Q2, we believe we are on the right track to continue to grow the company and increase profits over the next several years." Cree peers include SemiLEDs (LEDS) and Acuity Brands (AYI). Cree shares are up 6% in after-hours trading to $34.40 after reporting better than expected Q2 results.
Acuity Brands price target raised to $171 from $155 at Cowen Cowen raised its price target on Acuity Brands to $171 from $155 following its record quarterly results. The firm sees continued margin expansion and higher attach rates. Cowen reiterated its Outperform rating on Acuity Brands shares.