Benchmark Upgrades Liquidity Services (LQDT) to Buy; Raising Numbers on Accelerating Growth
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Price: $43.47 +1.23%
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Benchmark upgraded Liquidity Services (NASDAQ: LQDT) from Hold to Buy, price target raised from $41 to $57.
Analyst, Daniel L. Kurnos, said, "We believe that market expansion is the primary driver of growth and expect further market penetration gains, particularly in the Commercial and GovDeals segments. We are raising our F2Q12, FY12 and FY13 estimates to reflect the F2Q outperformance and additional projected future growth due to the network effect, but suspect there may still be upside to our numbers. Furthermore, valuation at 12x our revised FY13 EBITDA versus ecommerce peers at 11x appears more reasonable given superior growth, margins and the enhanced outlook."
(FY12 EPS estimate raised to $1.45 and FY13 to $1.73)
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 $46.71 yesterday.
Analyst, Daniel L. Kurnos, said, "We believe that market expansion is the primary driver of growth and expect further market penetration gains, particularly in the Commercial and GovDeals segments. We are raising our F2Q12, FY12 and FY13 estimates to reflect the F2Q outperformance and additional projected future growth due to the network effect, but suspect there may still be upside to our numbers. Furthermore, valuation at 12x our revised FY13 EBITDA versus ecommerce peers at 11x appears more reasonable given superior growth, margins and the enhanced outlook."
(FY12 EPS estimate raised to $1.45 and FY13 to $1.73)
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 $46.71 yesterday.
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