UPDATE: Citi Starts Big Lots (BIG) at Buy
Get Alerts BIG Hot Sheet
Rating Summary:
9 Buy, 14 Hold, 7 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
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Citi initiated coverage on Big Lots (NYSE: BIG) with a Buy rating and a price target of $58. Analysts think valuation is attractive and highlighted low margins expectations and potential for earnings growth. SSS growth is seen at 2% over the next 3 years.
"Potential SSS leverage (driven by 2% SSS growth over the next 3 years vs. an ’11-’13 period of sluggish/negative growth), combined with realistic/achievable margin enhancing opportunities, should drive 21% EPS growth over the next 3 years," said analysts. "We think valuation is attractive in light of these growth prospects, so we expect decent stock upside over the next year."
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 $47.65 yesterday.
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