Pali Research Maintains a 'Buy' on Big Lots (BIG); Raises Price Target & Estimates
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Pali Research maintains a 'Buy' on Big Lots (NYSE: BIG), raises price target from $28 to $31.
Pali analyst says, "Last week we met with BIG management and toured the Polaris test store in Columbus. We came away incrementally positive about merchandising and execution improvements. As the stock approaches our $28 price target we believe stabilization in the discretionary category (which carries a higher gross margin vs consumables), execution improvements and better value proposition merchandise will continue to drive upside to our EPS estimates for 2010. We are increasing our price target to $31 which implies 14x our new F2010 EPS estimate of $2.20 (versus $2.14, prior)."
To see more analyst ratings on BIG Click Here.
Big Lots, Inc., through its subsidiaries, operates as a broadline closeout retailer in the United States.
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