Deutsche Bank Starts Liquidity Services (LQDT) at Buy

September 21, 2012 9:00 AM EDT
Get Alerts LQDT Hot Sheet
Price: $9.55 +2.14%

Rating Summary:
    3 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Deutsche Bank initiates coverage on Liquidity Services (NASDAQ: LQDT) with a Buy rating and price target of $63.00.

“Liquidity Services should have several years of 15%+ organic GMV growth ahead as it takes market share from the highly fragmented and less efficient offline asset liquidation space,” said analysts.

“The company operates a very efficient two-side marketplace whereby suppliers can liquidate their assets at premium yield, and buyers can find consistent flow of the broadest selection of liquidated products at low prices.”

“On top of the organic growth, we expect the company to continue its strong track record of making accretive acquisitions. We expect EBITDA to grow faster than GMV long term (although not in 2013) as the company continues to optimize its technology and logistics infrastructure,” noted the report.

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 $55.53 yesterday.

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