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Fly News Breaks for September 3, 2019
BIG
Sep 3, 2019 | 09:32 EDT
Loop Capital analyst Anthony Chukumba raised his price target on Big Lots to $25 after its Q2 earnings beat and above-consensus guidance for Q3, saying the company also generated its fifth consecutive quarter of comp sales growth. The analyst notes that he is turning "increasingly optimistic" regarding the turnaround efforts of Big Lots' CEO, even as he cites the operating margin decline in the quarter from higher markdowns and promotions. Chukumba keeps his Hold rating on Big Lots and states that the stock remains a "show me" story.
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