Merrill Lynch Bullish On ADESA

Mer­rill Lynch has a “buy” rec­om­men­da­tion for ADESA and increased its out­look for 2004, spurred by the company’s third quar­ter results. ADESA report­ed earn­ings of 32 cents per share which was 30 cents above the esti­mate from Lynch and 27 cents the indus­try con­sen­sus.

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