MBGL: VIN It to Win It; Initiating on Mobility Global at Overweight

研报英文原文证据摘录

MBGL: VIN It to Win It; Initiating on Mobility Global at Overweight

Check and potential AI native

of its information services peer set. • AI starts to drive an acceleration in top- startups.

• We believe this valuation appropriately line growth. • Used vehicle sales moderate, causing a

balances MBGL's differentiated • With stronger earnings growth, we see slowdown in CARFAX revenue.

proprietary data estate, market- potential for multiple expansion to 18x, • In this scenario, we assume multiple

leading position in automotive data and a multiple at the mid-point of the info compression towards the lower end of

analytics, and attractive secular growth services coverage group, resulting in an our information services coverage down

tailwinds against pockets of potential upside price scenario of $31. to 9x, resulting in a $15 downside price

AI disruption risk and a competitive target.

operating environment.

Upcoming Catalysts Company Description

• Improvement in the used-car market Mobility Global Inc. provides mission-critical data, analytics, and

• Rising average vehicle fleet insights across the entire vehicle lifecycle. Its portfolio of trusted

• Accelerated AI-driven product innovations brands, including CARFAX, AutomotiveMastermind, Polk, and

• AI-driven data operation margin efficiencies Market Scan, serves OEMs, suppliers, dealers, financial institutions,

• Rising demand for data-driven insights from OEMs and dealers and consumers worldwide. Through vehicle history reports, industry

forecasts, marketing solutions, and other data-driven offerings,

the company helps customers make more informed decisions and

achieve better business outcomes.

2 | Equity Research