Benchmark Maintains Buy Rating for Steelcase: Here's What You Need To Know

Benchmark has decided to maintain its Buy rating of Steelcase SCS and lower its price target from $16.00 to $12.00.

Shares of Steelcase are trading down 11.25% over the last 24 hours, at $7.38 per share.

A move to $12.00 would account for a 62.71% increase from the current share price.

About Steelcase

Steelcase Inc is a furniture company primarily based in the United States and has operations in Europe, the Middle East, and Africa. Steelcase markets its products primarily through a network of independent and company-owned dealers. The company operates through the Americas segment, the EMEA segment and the Other category. The Americas segment offers architecture, furniture and technology products is marketed to corporate, government, healthcare, education and retail customers, EMEA segment provides furniture systems, storage and seating solutions.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.