Big Lots price target raised to $6 from $5.50 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Big Lots to $6 from $5.50 and keeps a Market Perform rating on the shares following Q3 earnings the firm describes as “a little better than anticipated.” Big Lots seen strong sell-through of Christmas merchandise so far and new products are performing well, as reflected in the company’s Q4 comp growth guidance, though the chooses to remain on the sidelines until it sees a clear path to positive sales growth.