Berenberg sees supply chain an ongoing battle for Kimball, but upside remains

Kimball International

14/02/2022 14:24

** Berenberg cuts PT on commercial furniture co  KBAL.O  by
$2 to $13, citing supply chain issues that resulted in weak Q2  
 
    ** Earlier this month, KBAL reported an earnings miss,
blaming supply chain disruption and inventory availability
issues  urn:newsml:reuters.com:*:nGNX5TZ6RP
    ** Following a large Q2 EPS miss, shares of Kimball have
unsurprisingly lagged market, says Berenberg 
    ** Broker believes Kimball International's strong balance
sheet leaves it well positioned to navigate near-term headwinds
    ** "As softness within the Hospitality segment begins to
fade with lighter travel restrictions, we believe order levels
should meaningfully surpass pre-pandemic levels" - Berenberg 
    ** KBAL flat YTD; stock lost ~15% in value last year 

 (Reporting by Pavithra S; Additional reporting by Karina Dsouza
in Bengaluru)
 ((Karina.Dsouza@thomsonreuters.com))