Baird Maintains an 'Outperform' on Liquidity Services (LQDT); Despite Lumpiness, DoD Data Confirms Q3 Upside

July 11, 2012 8:13 AM EDT
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Baird maintains an 'Outperform' on Liquidity Services (NASDAQ: LQDT) price target of $66.00.

Analyst, Colin Sebastian, said, "Government data is typically lumpy - sequential decline might be interpreted negatively. In terms of segment breakdown, government Surplus volume declined 15% sequentially in June, but increased 38% year-over-year. Scrap volume declined 13% sequentially and 21% year-over-year, with the overall Dept of Defense (DoD) business declining 15% sequentially and increasing 9% year-over-year. Importantly, the government business tends to be lumpy, and based on historical trends, we advise investors not to interpret a one-month decline as a red flag."

For an analyst ratings summary and ratings history on Liquidity Services click here. For more ratings news on Liquidity Services click here.

Shares of Liquidity Services closed at $41.01 yesterday.

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