Imperial Capital Reiterates Outperform After Meeting with MobileIron (MOBL)
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Imperial Capital reiterated an Outperform rating and $4.50 price target on MobileIron (NASDAQ: MOBL) after hosting investor meetings with management. Management expects to achieve growth above the market, implying upper teens or higher.
Analyst Michael Kim commented, "On 9/1/16, we hosted a series of investor meetings in San Francisco with CFO Simon Biddiscombe of MobileIron (MOBL). We came away with a more favorable view on the company’s growth momentum, market position, and upside potential from new solutions. We believe the new executive leadership team is ramping quickly and already implementing positive changes across the business, which could drive stronger execution over the coming quarters. We also believe MOBL remains on track to achieve breakeven operating cash flow in 4Q16, consistent with guidance."
Shares of MobileIron closed at $2.99 yesterday.
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