Big Lots price target lowered to $5 from $7 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Big Lots to $5 from $7 and keeps a Market Perform rating on the shares. The company’s pre-announced Q4 results were generally in line with its guidance, the analyst tells investors. Big Lots needs to show stabilization of its comp trend and a return to profits to sustain the business, Telsey states. While the company has several initiatives to transform the business, the “burden of proof” remains on the company to execute and gain share, leading the firm to remain on the sidelines.