MIPS AB, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Adela Dashian from Jefferies maintained a Buy rating on the stock and has a SEK580.00 price target.
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Adela Dashian’s rating is based on several factors that highlight MIPS AB’s potential for growth and resilience. Despite the third-quarter results falling slightly below expectations, with net sales of SEK 135 million and an adjusted EBITA of SEK 44 million, the company showed strong underlying growth. This growth was particularly evident in all three of its helmet categories, with notable increases in sales volumes for sports, moto, and safety helmets.
Additionally, MIPS AB demonstrated strong regional performance, especially in Europe and Sweden, which helped offset challenges in North America. The company’s ability to maintain momentum in a challenging environment, coupled with its robust brand equity and global diversification, supports a positive long-term outlook. These factors collectively contribute to Adela Dashian’s decision to rate MIPS AB with a Buy recommendation.