BOSTON ( TheStreet) -- Barrington Research has updated its market-beating list of Best Ideas for 2011, which includes stocks such as Sirius XM ( SIRI), Imax ( IMAX) and others it expects to rise up to 65%.

Investors may not be as familiar with Chicago-based Barrington Research as they are with Morgan Stanley or Credit Suisse, but the firm's Best Ideas List outperformed key benchmarks in 2010, when it was first started.

Barrington's list is updated quarterly and represents analysts' top picks for the coming 12 months. It is currently composed of 15 stocks with an average market value of $1.5 billion and median market cap of $800 million. Since inception on Jan. 1, 2010, Barrington's best stock picks have risen 44.5%, outpacing gains on the S&P 500 (18.9%) and the Russell 2000 (34.9%). That success continued in the first quarter, as the Best Ideas portfolio was up 6.8%, excluding dividends, better than the 5.4% rise on the S&P 500 but below the performance of the Russell 2000 (up 7.6%), on the same basis.

At the top of the portfolio's best performers during the first quarter, Orasure Technologies ( OSUR) rallied 37%, Navistar International ( NAV) jumped nearly 20% and Copart ( CPRT) climbed 16%. On the downside, education stocks Grand Canyon Education ( LOPE) and Bridgepoint Education ( BPI) dropped 26% and 10%, respectively, after a stellar fourth-quarter run.

The latest overhaul sees two additions to the list and one stock banished from the group. Orasure, which had been the best performer during the first quarter, was pulled after the departure of the analyst covering the stock. Barrington said it still maintains an "outperform" rating on Orasure, but that it is removing the stock from its list as a conservative move during the analyst transition period.

The 15 stocks on Barrington's list are arranged below in order of potential upside, based on the firm's 12-month price target and the stock's closing price as of March 31.

Copart ( CPRT)

Company Profile: Copart is a provider of online auctions in the U.S., Canada and the U.K.

Current Share Price: $43.87 (April 11)

Potential Upside from March 31: 3.9% based on a price target of $45

Barrington's Take: Copart again makes Barrington's list, although there isn't as much upside given the 15% rally in shares during the first quarter. Still, Barrington sees value in Copart thanks to brand-awareness initiatives the company has undertaken as well as new business due to a national contract with Allstate ( ALL).

"Despite the gross margin headwind related to the Allstate contract and the potential impact of higher gas prices and miles driven and total losses, we believe CPRT's volume growth in the back half of 2011 will be healthy due to Allstate, as well as increased efforts to penetrate the dealer market for late model used cars," Barrington wrote.

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