MillerKnoll initiated with an Outperform at William Blair

William Blair initiated coverage of MillerKnoll (MLKN) with an Outperform rating and no price target The firm believes the company is well positioned to return to a “more normalized growth cadence.” It estimates MillerKnoll can annually increase sales by 5% to 8% and earnings by 12% to 15% over the next three to five years. The company’s growth acceleration, align with a stable dividend, declining net leverage position, optionality around additional shareholder returns, and an attractive valuation compared with peers, “should support steady share price gains,” the analyst tells investors in a research note.