Mobile Mini shares rise on Baird upgrade

Shares of storage container company Mobile Mini rise on Baird upgrade

Associated Press

NEW YORK (AP) -- Shares of Mobile Mini Inc. rose Thursday after a Baird Equity Research analyst upgraded the storage container company's stock citing its growth opportunity and new management team.

THE SPARK: Analyst Andrew Wittmann upgraded Mobile Mini's stock rating to "Outperform" from "Neutral" and increased its price target to $39 from $35.

THE ANALYSIS: Wittmann said the company, which sells and rents storage containers and mobile offices to businesses and construction companies, may benefit as the U.S. economy and the construction industry recovers.

The company has made recent changes to its management. In March, it named Erik Olsson as its president and CEO. Olsson was CEO at rental equipment provider RSC Holdings Inc.

Last week, it named Audra Taylor as vice president and chief accounting officer.

Wittmann said the new hires "are industry veterans, providing credibility to investors."

SHARE ACTON: Shares of the company rose $1.15, or 3.7 percent, to close at $31.99 Thursday. Shares are up 53 percent since the beginning of the year. They have traded between $15.49 and $37.49 in the past 52-weeks.

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