HNI Corporation price target raised to $57 from $54 at Benchmark

Benchmark raised the firm’s price target on HNI Corporation to $57 from $54 and keeps a Buy rating on the shares after the company announced the planned closure of its Hickory manufacturing plant as another step in its Kimball integration and footprint optimization efforts. These new savings and a closer look at what’s left to come results in the firm’s EPS estimate for next year moving to $3.60 from $3.40, the analyst tells investors.