Deutsche Bank Downgrades Big Lots (BIG) to Hold; Negative Update for Q1 SSS

Deutsche Bank downgraded Big Lots (NYSE: BIG) from Buy to Hold with a new price target of $34.00.

Deutsche analyst said, "Downgrading shares of B.I.G following its negative
update on 1Q SSS. While we walked away concerned following our management meetings last month in Boston, the magnitude of the shortfall (given the compare) and the category of weakness (i.e. consumables) raises structural issues (again, ala 3Q10). Exacerbating the company’s credibility issues – the team at BIG is no longer attending a competitor’s conference tomorrow, which only deepens our concerns."

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 $45.71 yesterday.

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