Big Lots, Inc. (BIG)
by Zacks Equity ResearchOctober 08, 2012 | Comments : 0 Recommended this article: (0)
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The disappointing results compelled management to lower its fiscal 2012 earnings guidance to a range of $2.80 to $2.95 per share from $3.25 to 3.40 forecasted earlier. For fiscal 2012, the company expects U.S. comparable-store sales to decline in the low-single-digit range.
We have a long-term Underperform recommendation on the stock. Our target price of $27.00, 9.4X 2012 EPS, reflects this view.
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