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Fly News Breaks for March 16, 2016
BIG
Mar 16, 2016 | 06:52 EDT
Credit Suisse analyst Edward Kelly initiated Big Lots with an Underperform rating and $39 price target. The analyst said visibility on longer-term merchandising catalysts is low, credit-driven gains don't appear sustainable, and its e-commerce effort should be viewed cautiously. Kelly struggles to see how BIG grows EBITDA longer term and believes the company's recovery will eventually fade.
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