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DB Upgrades Big Lots to "Buy"

Shares of Big Lots, Inc. (NYSE:BIG) are advancing this morning on an upgrade from Deutsche Bank. The retailer was upgraded to buy from hold on better product offerings and elimination of unprofitable business units. As a result, the price target was raised by $1 to $33 per share. In addition, Deutsche is bullish on the visions of Big Lots’ new CEO. However, Deutsche is predicting that Big Lots will miss fourth quarter earnings estimates. The expected earnings miss will be driven mostly by consumer headwinds and the string of recent bad weather.   (Image source: bartlettsignserie.com)