UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Lowers PT on Liquidity Services
In a report published Friday, Bank of America Merrill Lynch reiterated its Buy rating on Liquidity Services (NASDAQ: LQDT), but lowered its price target from $53.00 to $50.00.
BofA Merrill Lynch noted, “Liquidity Services is an exclusive niche small-cap eCommerce asset. The company has higher than peer top and bottom line growth yet its valuation is below peers. With less than one percent penetration, Liquidity Services should have an opportunity to be a teen grower in the coming years. Although optimism surrounding the company's growth prospects will be offset by segment related concerns, we are bullish about the company's 15-20% projected organic GMV growth.”
Liquidity Services closed on Thursday at $37.83.
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