Wells Fargo & Company Lowers Mobility Global (NYSE:MBGL) Price Target to $23.00

Key Points

• Wells Fargo cut Mobility Global’s price target to $23 from $25 while maintaining an “overweight” rating, implying 20.51% upside from the prior close.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $22.75.
• Mobility Global shares fell 3.1% to $19.09 in Monday trading. The company recently reported quarterly EPS of $0.18 on revenue of $468 million.

Mobility Global (NYSE:MBGL - Get Free Report) had its target price cut by equities research analysts at Wells Fargo & Company from $25.00 to $23.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 20.51% from the stock's previous close.

Several other analysts have also issued reports on the company. Robert W. Baird reduced their target price on Mobility Global from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday. Zacks Research raised Mobility Global to a "hold" rating in a research note on Thursday, July 30th. Wolfe Research raised shares of Mobility Global to a "strong-buy" rating in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Mobility Global to a "hold" rating in a research note on Saturday, July 18th. Finally, Royal Bank Of Canada started coverage on shares of Mobility Global in a report on Thursday, July 2nd. They issued a "sector perform" rating and a $23.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.75.

Mobility Global Stock Down 3.1%

Shares of MBGL traded down $0.61 during mid-day trading on Monday, hitting $19.09. 2,002,507 shares of the company's stock were exchanged, compared to its average volume of 10,412,217. Mobility Global has a 52 week low of $17.67 and a 52 week high of $26.00.

Mobility Global (NYSE:MBGL - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $468.00 million during the quarter. As a group, research analysts anticipate that Mobility Global will post 1.45 earnings per share for the current fiscal year.

Mobility Global Company Profile

Mobility Global Inc providing critical data and analytics across the full vehicle lifecycle. Its portfolio of trusted brands and products includes CARFAX, automotiveMastermind, Polk Automotive Solutions and Market Scan, supporting automotive manufacturers, suppliers, dealer groups, media, financial institutions and consumers. Mobility Global Inc is based in NEW YORK.

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