Benchmark analyst Reuben Garner downgraded Steelcase to Hold from Buy with no price target as he now believes the demand "soft patch" that started to show up last quarter may last longer than he originally thought. He suspects it will be "challenging for investors to see the light at the end of the tunnel" when combining demand softness with relative exposures to larger enterprises and Europe, Garner said.
Published first on TheFly
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