Herman Miller: Leveraging M&A To Expand Into High Growth Asia Market [Seeking Alpha]
Herman Miller, Inc. (MLHR)
Last herman miller, inc. earnings: 3/18 04:05 pm
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US:NASDAQ Investor Relations:
hermanmiller.com/investors
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Source: Seeking Alpha
The Opportunity Herman Miller ( MLHR ) is the best stock to own in the furniture industry because of their above industry growth opportunities and the recently introduced Profit Optimization Initiative. Herman Miller has created an strategy for increasing their profits with the “Profit Optimization Initiative” which represents a further $90 million costs savings opportunity for the company. The company is also capturing emerging market growth opportunities focused on Asia. The Asian market accounts for 18% of revenues and has a growth rate of 23.9%. The company acquired 33% of HAY, a Danish company, to help expand into Asia and other high growth markets. The focus on Asia and other emerging markets should create additional growth and power the share price higher. Based upon the company's strategy to optimize profits and use additional growth levers in Asia, I derive a price target of $40. My price target implies there is a 20% investment return opportunity from the c
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