UPDATE: Canaccord Genuity Downgrades Acuity Brands on Valuation

In a report published on Monday, Canaccord Genuity analyst Jonathan Dorsheimer downgraded Acuity Brands (NYSE: AYI ) from Buy to Hold and maintained a price target of $78.00. In the report, Canaccord Genuity noted, "Our model is already factoring in a reasonable amount of TAM expansion, share gains and the operational