Baird Starts Mobility Global (MBGL) at Neutral

Baird analyst Jeffrey Meuler initiates coverage on Mobility Global (NYSE: MBGL) with a Neutral rating and a price target of $23.00.

The analyst comments: “Initiating MBGL coverage with Neutral rating, though we are positive on the business, and more constructive on shares intermediate term than we are in the short term (short-term concerns are primarily post-spin dynamics/trading related, though recent CARFAX subscription deceleration may stoke concerns among investors nearer term). Discounted valuation vs. materially de-rated comps makes us more intermediate-term constructive, while we expect good compounding consolidated growth and believe CARFAX (key profit driver) has an excellent market position providing high value solutions, with significant barriers to entry/competition.”

For an analyst ratings summary and ratings history on Mobility Global click here. For more ratings news on Mobility Global click here.

Shares of Mobility Global closed at $21.19 yesterday.

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