Benchmark Maintains Buy on Liquidity Services
In a report published earlier today, Benchmark remains at a Buy rating on Liquidity Services (NASDAQ: LQDT) and a price target of $73.
Benchmark remarks, “Shares of Liquidity Services (LQDT-Buy, PT $73) have fallen 10% over the past month as investors likely cashed in on the stock's strong run. Fears that the recent string of outperformance may not be sustainable could also be contributing to the profit taking. While we have witnessed some minor underperformance in the Scrap category in recent months, Commercial GMV continues to exceed our expectations, and we expect total F3Q (June) and FY12 GMV will come in above both the high end of guidance and consensus estimates. We think the recent sell off provides an attractive entry point and expect results will continue to surprise to the upside.”
LQDT closed at $58.53 on Wednesday.
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