Wedbush Upgrades Big Lots (BIG) to Outperform; Improvements Throughout the Business
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Price: $3.70 +1.09%
Rating Summary:
9 Buy, 14 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
9 Buy, 14 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Wedbush upgraded Big Lots (NYSE: BIG) from Neutral to Outperform, price target raised from $34 to $47.
Wedbush analyst says, "Upgrading based on easier comparisons, more compelling merchandise, more consistent performance across merchandise categories, and a return to consumables-driven traffic. Much has changed over the past year when the company was struggling with its consumables business. Since then, the company has improved the assortment and achieved consumables comp growth in msd during Q2 and hsd during Q3. Overall comparisons become easier through 1H:12, as the company will be anniversarying negative lsd to flat comps...Raising our forecast for 2011 EPS to $2.91 (from $2.81) and 2012 EPS to $3.54 (from $3.48)."
For more ratings news on Big Lots click here and for the rating history of Big Lots click here.
Shares of Big Lots closed at $39.96 yesterday.
Wedbush analyst says, "Upgrading based on easier comparisons, more compelling merchandise, more consistent performance across merchandise categories, and a return to consumables-driven traffic. Much has changed over the past year when the company was struggling with its consumables business. Since then, the company has improved the assortment and achieved consumables comp growth in msd during Q2 and hsd during Q3. Overall comparisons become easier through 1H:12, as the company will be anniversarying negative lsd to flat comps...Raising our forecast for 2011 EPS to $2.91 (from $2.81) and 2012 EPS to $3.54 (from $3.48)."
For more ratings news on Big Lots click here and for the rating history of Big Lots click here.
Shares of Big Lots closed at $39.96 yesterday.
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