Analyst Kevin Steinke from Barrington maintained a Buy rating on Mobile Infrastructure Corp and keeping the price target at $6.50.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Kevin Steinke’s rating is based on several strategic factors that position Mobile Infrastructure Corp for future growth. Despite recent challenges, such as lower transient parking volumes due to ongoing construction and reduced event attendance, the company has shown resilience in a tough market. The temporary disruptions are expected to ease, with renovations at major event centers likely to boost demand for MIC’s parking assets in the long term.
Additionally, the company is strategically increasing its focus on contract parking, which provides more stable and recurring revenue streams. This shift is supported by significant growth in monthly residential parking contracts and favorable trends in office-to-residential conversions. With a diversified portfolio of parking assets and a proprietary asset management platform, MIC is well-positioned to capitalize on opportunities in a fragmented industry, supporting Steinke’s Buy rating.
Steinke covers the Industrials sector, focusing on stocks such as Kelly Services, Cra International, and Heidrick & Struggles. According to TipRanks, Steinke has an average return of 14.2% and a 56.58% success rate on recommended stocks.
In another report released yesterday, Maxim Group also reiterated a Buy rating on the stock with a $7.00 price target.