Maxim starts Mobile Infrastructure at Buy amid ‘reestabilished’ parking patterns

Maxim initiated coverage of Mobile Infrastructure (BEEP) with a Buy rating and $7 price target The company is an institutional-size owner of parking facilities in a very large and highly fragmented market, and the firm believes that it can increase adjusted EBITDA to 64% in 2025-2027 through organic growth, recycling of proceeds from parking lot sales, and acquisitions, the analyst tells investors in a research note. “Normal” work and leisure patterns, disrupted by COVID-19, are now being re-established, with the back-to-office movement, increasing business travel, and consumer leisure activities, the firm adds.