Deutsche Bank Upgrades Big Lots (BIG) to Hold
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Price: $0.50 --0%
Rating Summary:
9 Buy, 15 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
Rating Summary:
9 Buy, 15 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
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Deutsche Bank upgraded Big Lots (NYSE: BIG) from Sell to Hold with a price target of $35.00 (from $24.00), saying near-term risks are off the table although concerns remain.
The firm comments, "We are upgrading shares of Big Lots to Hold from Sell as investor's focus turns from weak operating results to potential strategic and merchandising changes ahead, with a new CEO likely to be named in the coming months, an ongoing full market remodel program, coolers being tested, and marketing changes underway. Guidance for 2H13 implies significant improvement in both the topline and margin trends, and may be at risk of being achieved, however, 1Q guidance was realistic, in our view, limiting downside risks in the near-term."
The firm raised FY13 EPS from $2.70 to $3.17.
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 $35.97 yesterday.
The firm comments, "We are upgrading shares of Big Lots to Hold from Sell as investor's focus turns from weak operating results to potential strategic and merchandising changes ahead, with a new CEO likely to be named in the coming months, an ongoing full market remodel program, coolers being tested, and marketing changes underway. Guidance for 2H13 implies significant improvement in both the topline and margin trends, and may be at risk of being achieved, however, 1Q guidance was realistic, in our view, limiting downside risks in the near-term."
The firm raised FY13 EPS from $2.70 to $3.17.
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 $35.97 yesterday.
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