WillScot Mobile Mini Holdings Corp. (WSC) NDR Offers 4 Takeaways - Jefferies

March 26, 2021 8:03 AM EDT
Get Alerts WSC Hot Sheet
Price: $28.93 +0.49%

Rating Summary:
    11 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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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".

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

Shares of WillScot Mobile Mini Holdings Corp. closed at $25.97 yesterday.



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