real-time news and commentary for investors
Wednesday, Sep 4
MKM raises price target on Big Lots
- Big Lots (BIG +1.5%) looks to be benefiting from positive commentary out of MKM.
- "We continue to expect positive same-store sales in Q4," analyst Patrick McKeever says, noting that the compare is particularly easy at -3.5%.
- Although McKeever cuts his FY13 EPS estimate to $2.93 from $2.98 thanks to Big Lots Canada (below-trend business in July and August), the price target on the shares is hiked to $42 from $38, representing 13x FY14 estimates.