WillScot Mobile Mini downgraded to Hold from Buy at Jefferies

Jefferies analyst Philip Ng downgraded WillScot Mobile Mini to Hold from Buy with a price target of $42, down from $58. The firm believes the company’s fiscal year guidance is achievable, but its latest checks indicate demand remains soft and outlook will likely be skewed to the second half of 2024. Further, with the McGrath deal going through a second review process, the outcome of the transaction likely gets pushed out to Q4, and the risk of getting blocked has increased, the analyst tells investors in a research note. Jefferies sees limited catalysts in the stock in the near-term and sees WillScot “lagging.”