WillScot Mobile Mini Holdings Corp. (WSC) NDR Offers 4 Takeaways - Jefferies
- S&P 500, Dow hit record highs on bank earnings boost
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar slips to 4-week low hurt by recent retreat in yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Jefferies analyst Philip Ng reiterated a Buy rating and $34.00 price target on WillScot Mobile Mini Holdings Corp. (NASDAQ: WSC) after hosting investor meetings with Brad Soultz (CEO) and Tim Boswell (CFO) and learning that demand is firming up, the runway for value creation with MINI remains long, the untapped pricing / VAPS opportunity in storage, and the optionality for capital deployment in M&A and buybacks.
The analyst stated "WSC's NT focus on integration & deleveraging to 3-3.5x won't preclude it from pursuing M&A if the right deal becomes available, and there are regional candidates in both modular (~7 players) and storage (~10). WSC continues to invest in organic growth, primarily unit refurb and VAPS, and at ~70% utilization, has ample capacity to raise volumes the next few years without fleet expansion, so we don't expect capex to step up meaningfully from ~$200 mil over the medium term. Lastly, WSC has optionality with non-core assets, UK Storage and Tank & Pump, but as they don't require significant capital investment or distract from the core NA business, the company can be patient".
Shares of WillScot Mobile Mini Holdings Corp. closed at $25.97 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Jefferies Starts Rush Street Interactive (RSI) at Buy, Internally Developed Tech Provides a Competitive Advantage
- Cia Brasileira de Distribuicao (PCAR3:BZ) PT Raised to R$39 at Morgan Stanley
- 3 Athira Pharma (ATHA) KOLs Are Positive on ATH-1017 Data Ahead of PDUFA, Jefferies Reiteates Buy
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!