Barclays Upgrades Big Lots (BIG) to Overweight; Making A Play Off The Bottom
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Price: $0.50 --0%
Rating Summary:
9 Buy, 15 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 15 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays upgraded Big Lots (NYSE: BIG) from Equalweight to Overweight, price target lowered from $45 to $43.
Analyst, Meredith Alder, said, "Upgrades to OW given the substantial drop in the stock following the announcement of weak sales for 1Q12. Surprisingly, consumables and electronics/toys/jewelry (the Play n' Wear category) showed the greatest weakness this past quarter, even though consumables were strong during most of 2011 after being soft in 2010. The market does not yet know what caused the recent weakness or what can be done to fix it, but we think investors should anticipate that comps and earnings will not become more consistent in the near term."
Adler sees volatility in the stock near-term, but most likely see a recovery in shares off the current low levels (Note stock buybacks and turnaround management team). Alder lowers FY12 EPS estimate from $3.54 to $3.43 and FY13 from $4.01 to $3.89.
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 $36.21 yesterday.
Analyst, Meredith Alder, said, "Upgrades to OW given the substantial drop in the stock following the announcement of weak sales for 1Q12. Surprisingly, consumables and electronics/toys/jewelry (the Play n' Wear category) showed the greatest weakness this past quarter, even though consumables were strong during most of 2011 after being soft in 2010. The market does not yet know what caused the recent weakness or what can be done to fix it, but we think investors should anticipate that comps and earnings will not become more consistent in the near term."
Adler sees volatility in the stock near-term, but most likely see a recovery in shares off the current low levels (Note stock buybacks and turnaround management team). Alder lowers FY12 EPS estimate from $3.54 to $3.43 and FY13 from $4.01 to $3.89.
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 $36.21 yesterday.
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