Big Lots price target raised to $7 from $6 at Loop Capital

Loop Capital raised the firm’s price target on Big Lots to $7 from $6 but keeps a Hold rating on the shares. The company’s Q2 results were ahead of the firm’s expectations, including higher-than-expected comparable sales growth and profit margins along with a lower-than-expected net loss, the analyst tells investors in a research note. Big Lots still faces significant macroeconomic headwinds however and the company’s shift to carrying more opportunistically purchased merchandise is still “largely unproven”, the firm added.