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Fly News Breaks for December 9, 2019
FIVE, DG, BIG
Dec 9, 2019 | 09:22 EDT
Loop Capital analyst Anthony Chukumba keeps his Hold rating and $25 price target on Big Lots (BIG) after its Q3 results, noting that while earnings topped expectations and the management was optimistic about the holiday season, the company's comps came in negative for the first time in five quarters. With no material improvement anticipated in Q4, the analyst contends that Big Lots remains a "show me" story, particularly following Friday's 32% jump in the stock price. For investors seeking exposure to deep discount retailing space, Chukumba recommends shares of Dollar General (DG) and Five Below (FIVE).
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