Wells Fargo Downgrades Acuity Brands to Equal-Weight, Lowers Price Target to $260
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo has downgraded Acuity Brands from Overweight to Equal-Weight and lowered its price target from $295 to $260.
June 28, 2024 | 2:26 pm
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Wells Fargo analyst Joseph O'Dea downgraded Acuity Brands from Overweight to Equal-Weight and reduced the price target from $295 to $260.
The downgrade from Overweight to Equal-Weight and the reduction in the price target from $295 to $260 by Wells Fargo is likely to negatively impact Acuity Brands' stock price in the short term. Downgrades and lower price targets typically signal reduced confidence in the company's near-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100