Benchmark Reiterates a 'Buy' on Big Lots (BIG); Raising PT & Estimates After Q4 Beat

March 5, 2012 11:05 AM EST
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Price: $50.46 --0%

Rating Summary:
    11 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Benchmark reiterates a 'Buy' on Big Lots (NYSE: BIG) price target raised from $53 to $56.

Benchmark analyst said, "Big Lots Q4 was $0.02 above expectations on an aggressive share repurchase program. US 2012 operations are forecasted to be better than prior expectations. While Canada may be taking longer to ramp up than we previously modeled, we believe Big Lots is making a sound investment in its future. We increased our 2012 EPS to $3.50, from $3.30 on stronger US revenue and a more aggressive US operating margin. We believe there could be upside potential to our 2012 EPS estimate driven by share repurchases. Given the increase in our estimates, we increased our price target."

For an analyst ratings summary and ratings history on Big Lots click here. For more ratings news on Big Lots click here.

Shares of Big Lots closed at $42.71 yesterday.

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