Goldman Sachs analyst Brian Lee lowered the firm's price target on Acuity to $295 from $342 and keeps a Neutral rating on the shares. The company reported mixed Q2 results as revenue slightly missed expectations but continued margin expansion supported a beat on EPS, the analyst tells investors in a research note. The firm adds however that the management guided down its outlook for ABL - Acuity Brands Lighting segment - driven by macro uncertainties and labor tightness, and now anticipates revenue for the segment to be flat to down low single digits.
