Liquidity's Model For 2011 Remains Unchanged

Oppenheimer has published a research report on Liquidity Services, Inc.

showing unchanged year-end estimates and outlook. In the report, Oppenheimer writes "We are establishing quarterly estimates for F11, while our full-year estimates remain largely unchanged. Volatility in quarterly GMV is largely driven by the scrap business, which fluctuates with commodity pricing. In addition, the company usually books a payment/rebate from the Department of Defense in F3Q based on certain financial conditions." Oppenheimer maintains its Outperform rating and $18 price target. Liquidity Services, Inc. closed Friday at $15.39.