Piper Jaffray Maintains Neutral on Big Lots

Piper Jaffray is out with its report today on Big Lots

, maintaining Neutral. In its report, Piper Jaffray writes, "We are maintaining our Neutral rating and holding our $35 PT following BIG's Q2 earnings call. While we believe the US business appears to be slowly improving and BIG has moved toward an aggressive stance on share repurchases, we believe these positives are negatively offset by the (greater-than-expected) dilutive nature of the Liquidation World acquisition." Shares of BIG closed Thursday at $32.21, down 0.53% from Wednesday's close.