KeyBanc Upgrades Mobile Mini (MINI) to Buy, Sees Inflection Point

December 10, 2012 7:19 AM EST Send to a Friend
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Price: $37.97 -2.69%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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KeyBanc upgraded Mobile Mini (NASDAQ: MINI) from Hold to Buy with a price target of $28.00.

The firm comments, "Following Mobile Mini, Inc.'s (MINI-NASDAQ) recent CEO departure and its 3Q results that were indicative of a major change in strategy, we now believe that MINI is in the early stages of a recovery. Given this view (which differs considerably from our prior view - more below), we believe MINI is now better positioned to: 1) drive considerable improvement in container/office utilization, a metric that has significantly lagged its peers; 2) enjoy robust margin expansion and subsequent earnings improvement with limited investment; and 3) generate significant free cash flow that could be used to reduce debt."

KeyBanc is increasing 2013 EPS estimate slightly to $1.18 and introducing a 2014 EPS estimate of $1.48.

For an analyst ratings summary and ratings history on Mobile Mini click here. For more ratings news on Mobile Mini click here.

Shares of Mobile Mini closed at $20.66 yesterday.


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