Oppenheimer Boosts Price Target on Liquidity Services (LQDT) to $57
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Price: $43.47 +1.23%
Rating Summary:
5 Buy, 5 Hold, 1 Sell
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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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Oppenheimer raised estimates and its price target on Outperform-rated Liquidity Services (NASDAQ: LQDT) to $57 ahead of Q2 results, citing strong monthly GSS data for Commercial and GovDeals, and the firm's assumption for continued acquisitions versus share repurchases.
"We now estimate F2Q GMV growth of 49% vs. 27% previously, or 30% organic growth, with long-term GMV growth of 28% or 19% organic," the firm comments.
Q2 EPS estimates were raised from $0.25 to $0.31, Q3 from $0.28 to $0.30 and FY12 from $1.03 to $1.10. FY13 was also raised from $1.43 to $1.52.
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 $49.36 yesterday.
"We now estimate F2Q GMV growth of 49% vs. 27% previously, or 30% organic growth, with long-term GMV growth of 28% or 19% organic," the firm comments.
Q2 EPS estimates were raised from $0.25 to $0.31, Q3 from $0.28 to $0.30 and FY12 from $1.03 to $1.10. FY13 was also raised from $1.43 to $1.52.
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 $49.36 yesterday.
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