Barrington Research Maintains Outperform Rating on KAR Auction Services

A report from Barrington Research reiterates its Outperform rating and $18-21 price target on KAR Auction Services (NYSE: KAR).

The report states, “The addition of OPENLANE's institutional and dealer vehicle base will help to mitigate the headwinds that we expect KAR will face in terms of unit growth throughout 2012. We have an OUTPERFORM rating on the shares with an $18-21 price target as we believe OPENLANE could be a catalyst for the stock in 2012 coupled with the stock's extremely compelling valuation."

KAR closed Friday at $13.87.