UPDATE: Feltl and Company Upgrades Big 5 Sporting Goods to Buy on Q3 Beat
Feltl and Company upgraded Big 5 Sporting Goods (NASDAQ: BGFV) from Hold to Buy and increased its price target from $9 to $11.
Feltl and Company noted, "Management's 4Q:12 guidance is better than expected for both top and bottom lines. Management guided 4Q:12 same-store sales of “positive mid-single-digits” compared to our prior estimate of 2.3%. Sales are positive so far this quarter. Management guided 4Q:12 EPS to a range of $0.13-$0.21. We previously modeled EPS of $0.15 and consensus was $0.17."
Big 5 Sporting Goods closed at $8.92 on Thursday.
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