Noble Capital starts ‘global leader’ Steelcase with an Outperform

As previously reported, Noble Capital analyst Joe Gomes initiated coverage of Steelcase with an Outperform rating and $16 price target Despite being “the global leader in the office furniture marketplace,” the firm says Steelcase’s overall market share is relatively modest and it believes the company can benefit from a rising market share in a growing market and capture additional market share. The firm, which sees “a substantial opportunity to capture additional wallet share, calls the company’s research driven approach “a competitive differentiator.”