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- Positive on LED lighting adoption, analyst Brian Lee says CREE shares have already price in solid execution in this segment by the company. Cree's price in the mid-term will instead be driven by the chip business (LED chip cycle accounts for 50% of Cree revenue) where Cree faces numerous headwinds. He downgrades to Neutral and cuts the price target to $48 from $60.
- Acuity Brands (NYSE:AYI) is the play in LED lighting, he says, upgrading the stock to a Buy with price target raised to $153 from $128.
- "We expect Acuity to see continued upside in growth vs. peers, as well as margin stability and FCF generation, given tailwinds from (1) “smart lighting” – where Acuity is growing in the $3-$4B sensors/controls market and (2) non-resi construction – where near-term trends suggest upside, plus LED paybacks are favorable vs. retrofits."
- CREE -3.1%, AYI +1.6% premarket
Sep. 13, 2014, 8:25 AM
- Cowen analysts choose their favorite clean technology stocks in areas such as next-generation transportation, natural gas and liquid natural gas, smart grid and next-generation lighting.
- Polypore (NYSE:PPO) is Cowen's top pick in clean tech, is very levered to the fast-growing electric car market, and the firm feels it is poised to take advantage of long-term deals with Samsung and Panasonic.
- Pacific Ethanol (NASDAQ:PEIX) is the leader in California’s ethanol market, margins have been improving, and Cowen expects California ethanol prices to rise with increased rail costs from the Midwest to the state.
- Maxwell Technologies (NASDAQ:MXWL) is a top supplier of innovative ultra-capacitor solutions and has growth opportunities in China with sales for regenerative braking systems for municipal buses.
- Acuity Brands (NYSE:AYI) is a leading provider of lighting fixtures; the stock is not cheap, but the firm thinks non-residential sales trends and LED margin improvement can continue to drive shares higher.
- Silver Spring Networks (NYSE:SSNI) provides IP-based secure networking platforms as well as a suite of solutions to utilities, and Cowen likes its industry-leading 30% share in utility networking equipment.
Jul. 1, 2014, 12:48 PM
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Jan. 9, 2014, 10:50 AM
- Acuity Brands (AYI +16.7%) shares surge after the company beats expectations in FQ1.
- Revenue of $574.7M (+20% Y/Y), beats by $33.8M.
- EPS of $0.96, beats by $0.12.
- CEO Vernon Nagel: "[O]ur expectation for the future is that overall demand in our end markets will continue to improve and be more consistent and broad-based. The favorable trend in our December order rates seems to reflect this improvement."
- PR, Conference call (webcast)
Jan. 9, 2014, 8:52 AM
AYI vs. ETF Alternatives
Acuity Brands Inc is engaged in designing, producing and distributing lighting solutions, components, and services for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and international markets.
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