In a report published Tuesday, Deutsche Bank analyst Paul Trussell upgraded the rating on Big Lots BIG from Hold to Buy, and raised the price target from $32.00 to $33.00.
In the report, Deutsche Bank noted, “Down 32% over the past 3 months (to just 5.0x fwd EV/EBITDA), with short interest of 10% and just a 31% Buy recommendation ratio, we believe shares of BIG more than discount the execution risks associated with the new CEO's vision to make Big Lots a more relevant retailer. While we acknowledge an increasingly competitive environment and headwinds faced by consumers, BIG has the lowest sales productivity in our universe.”
Big Lots closed on Friday at $26.30.
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