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Fly News Breaks for December 10, 2018
BIG
Dec 10, 2018 | 06:07 EDT
Piper Jaffray analyst Peter Keith lowered his price target for Big Lots to $39 to reflect the company's miss in Q3 but keeps an Overweight rating on the shares. While the analyst still expects "notable comp acceleration" in the first half of 2019 from tax refunds, he thinks the Q3 results mark an inflection point for Big Lots with rising costs. He reduced his 2019 earnings per share estimate to $3.55 from $4.80.
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