Market Overview

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

Related BIG
Will Omnichannel Accelerate Big Lots' Turnaround Pace?
Analysts Not-So-Bullish On Costco
Big Lots Soars After 1Q Beat (Fox Business)

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
Dec 2014WedbushReiteratesOutperform
Dec 2014JP MorganDowngradesOverweightNeutral
Sep 2014FBR CapitalMaintainsOutperform

View More Analyst Ratings for BIG
View the Latest Analyst Ratings

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

 

Related Articles (BIG)

Around the Web, We're Loving...

Get Benzinga's Newsletters