Benchmark Starts Liquidity Services (LQDT) at Hold; The Leading Online Liquidator
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Price: $43.27 +1.22%
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark initiates coverage on Liquidity Services (NASDAQ: LQDT) with a Hold. PT $41.00.
Benchmark analyst says, "The recent acquisition of Jacobs Trading includes a five-year contract with Wal-Mart (NYSE: WMT)(Not Rated), granting LSI exclusive rights to certain consumer products. LSI now stands as one of Wal-Mart’s largest third-party liquidators. Other retailers may turn to Liquidity Services with renewed interest as a result."
"With limited direct competition, a firmly established buyer/seller base, and a scalable business model, we believe LSI could show sustainable cash flow growth of over 20% annually. However, consensus expectations already fall at the high end of guidance, and with the stock trading at 15x F2012E (September) adjusted EBITDA, near-term upside may be limited."
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 $40.24 yesterday.
Benchmark analyst says, "The recent acquisition of Jacobs Trading includes a five-year contract with Wal-Mart (NYSE: WMT)(Not Rated), granting LSI exclusive rights to certain consumer products. LSI now stands as one of Wal-Mart’s largest third-party liquidators. Other retailers may turn to Liquidity Services with renewed interest as a result."
"With limited direct competition, a firmly established buyer/seller base, and a scalable business model, we believe LSI could show sustainable cash flow growth of over 20% annually. However, consensus expectations already fall at the high end of guidance, and with the stock trading at 15x F2012E (September) adjusted EBITDA, near-term upside may be limited."
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 $40.24 yesterday.
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