The Philips buyout of Genlyte represents a 52% premium to the closing price of the fixture maker this past Friday, and shares immediately soared more than $30 a stub in morning trading today. While the Motley Fool Stock Advisor recommendation sells fixtures to commercial and residential markets, the commercial side accounts for three-quarters of the company’s revenues. Analysts have been noting that U.S.

nonresidential construction actually remains robust so that companies like Genlyte and Acuity Brands (NYSE: AYI ) still have bright prospects. Genlyte is expected to grow earnings more than 33% over the next five years.

This entry was posted on Monday, November 26th, 2007 at 2:34 am and is filed under Consumer Electronics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.