Thursday, November 15, 2012

SCS: Office Furniture Takes Off

Shares of office furniture maker Steelcase (SCS) are hopping today, up 61 cents, or 12%, at $5.78, after BB&T Capital Markets analyst Matt McCall this morning raised his rating on the stock to “Buy” from “Hold” with a $9 price target. Even without new commercial construction, demand for furniture can pick up, argues McCall, with office moves and changes in staff. With new unemployment claims coming in lower lately, there’s support for durable stocks like Steelcase, he argues. Steelcase competitor Knoll (

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