Market Overview

UPDATE: Bank of America Downgrades Liquidity Services to Neutral on Near-Term Uncertainty

Related LQDT
Liquidity Services Announces Business Realignment Actions And New Senior Leadership Appointments To Support Integration And Growth Objectives
Top 4 NASDAQ Stocks In The Catalog & Mail Order Houses Industry With The Highest EPS

Bank of America reduced its rating on Liquidity Services (NASDAQ: LQDT) from Buy to Neutral and lowered its price target from $62 to $46.

Bank of America said, "We are lowering Liquidity Services (LQDT) to Neutral while taking our price objective to $46 (from $62) based on 20x (from 27x) our 2013 non-GAAP EPS estimate. Yesterday, LQDT disclosed complete F4Q GMV results and we expect LQDT will report $231mn in GMV which is at the low-end of guidance and $4mn below our $235mn estimate. Given LQDT's recent strong quarterly beats, we believe Street sentiment could deteriorate heading into initial FY13 guidance."

Liquidity Services closed at $43.61 on Thursday.

Latest Ratings for LQDT

Jun 2014BenchmarkDowngradesBuyHold
May 2014OppenheimerMaintainsMarket PerformMarket Perform
May 2014Roth CapitalMaintainsBuyBuy

View More Analyst Ratings for LQDT
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Intraday Update Analyst Ratings


Related Articles (LQDT)

Around the Web, We're Loving...

Get Benzinga's Newsletters