Big Lots (BIG) Stock Lower Following Deutsche Bank Downgrade
NEW YORK (TheStreet) -- Shares of Big Lots (BIG) - Get Report are falling by 1.01% to $43.19 in pre-market trading on Monday morning, after the stock was downgraded to "hold" from "buy" at Deutsche Bank today.
The firm lowered its rating on the retailer's stock as it sees headwinds to the dollar store sector, resulting from new overtime payment rules, CNBC.com reports. Additionally, increasing competition from successful rival Wal-Mart (WMT) also factored into Deutsche Bank's downgrade.
The firm reduced its price target on Big Lots stock to $47 from its previous $49 target.
Big Lots is a Columbus, OH-based discount retailer selling products including furniture, electronics, pet supplies, Groceries and more.
Separately, TheStreet Ratings has set a "buy" rating and a score of B+ on Big Lots stock. This is driven by a number of strengths, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, attractive valuation levels, expanding profit margins, good cash flow from operations and increase in net income. Although no company is perfect, currently TheStreet Ratings does not see any significant weaknesses which are likely to detract from the generally positive outlook.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: BIG
