Liquidity Services price target lowered to $20 from $26 at Barrington

Barrington analyst Gary Prestopino lowered the firm’s price target on Liquidity Services to $20 from $26 and keeps an Outperform rating on the shares after a Q4 report that he called "a mixed bag." GMV was less than expected, revenue growth of 7% was less than GMV growth, but adjusted EBITDA came in better than his expectations, said the analyst, who cites a reduction in adjusted EBITDA estimates and a comparable trading analysis for his lower target.