UPDATE: Oppenheimer Raises Liquidity Services' PT

According to a research report published earlier today, Oppenheimer has increased Liquidity Services' LQDT PT from $43 to $57. Oppenheimer commented in the report, “We are raising our estimates and price target ahead of F2Q results, based on strong monthly GSS data for Commercial and GovDeals, and our assumption for continued acquisitions vs. share repurchases. As a result, our price target increases to $57 from $43, which assumes 15% upside from current levels. Management has a proven track record of completing highly accretive acquisitions. 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.” Oppenheimer maintains its Outperform rating on Liquidity Services, which is currently trading at $49.48.