MillerKnoll price target raised to $30 from $25 at Craig-Hallum

Craig-Hallum raised the firm’s price target on MillerKnoll to $30 from $25 and keeps a Hold rating on the shares. The firm says MillerKnoll continues to execute well in a difficult environment for makers of high-end office furniture. The company reported better-than-expected adjusted EPS and lower-than-expected EBITDA for Q2, despite revenue of $949.5M being just below the low end of management’s guidance of $950-990M. Guidance for Q3 tells a similar story, with the company looking for EPS that is slightly better than Craig-Hallum’s prior estimates, but on lower-than-previously-expected revenue.