Market Overview

UPDATE: Citigroup Initiates Big Lots at Buy on Potential Inflection Point

Share:
Related BIG
Barclays Shrugs At Food & Staples Sector, Interest Piqued By Just 3 Names
How Does Target's New $5 Billion Buyback Plan Stack Up Against Other Retailers?

Citigroup initiated coverage on Big Lots (NYSE: BIG) with a Buy rating and a $36 price target.

Citigroup said, "While BIG is on pace to post its first annual comp decline in 14 years in 2012, we expect the company to pick itself up in 2013 and return to positive comps and double-digit EPS growth. The merchandising improvements made under John Martin's leadership since August and BIG's turnaround efforts in Canada contribute to our above-consensus 2013 EPS estimate of $3.27, and new traffic-driving initiatives provide incremental upside to our current forecasts. With the stock trading at 8.6x next year's EPS, we see an opportunity to own BIG at an inflection point in its story."

Big Lots closed at $27.96 on Thursday.

Latest Ratings for BIG

DateFirmActionFromTo
Sep 2016BarclaysInitiates Coverage onEqual-weight
Sep 2016CitigroupMaintainsBuy
Aug 2016Northcoast ResearchDowngradesBuyNeutral

View More Analyst Ratings for BIG
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (BIG)

View Comments and Join the Discussion!