Big Lots in Big Trouble? Analyst Foresees Furniture Fiasco and Slashes Price Target
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Joseph Feldman has reiterated a Market Perform rating on Big Lots Inc (NYSE:BIG) and lowered the price target from $15 to $9. The analyst forecasts a total sales decline of 13.6% to $1.19 billion, with comparable sales decline of 14.0% due to softer consumer spending and the closing of Big Lots's top furniture vendor, United Furniture Industries.
May 22, 2023 | 6:49 pm
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Big Lots' price target has been lowered from $15 to $9 by Telsey Advisory Group analyst Joseph Feldman, who forecasts a sales decline of 13.6% to $1.19 billion and a comparable sales decline of 14.0%.
The lowered price target is due to the forecasted sales decline, softer consumer spending, and the closing of Big Lots's top furniture vendor, United Furniture Industries. These factors are expected to negatively impact the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Target (NYSE:TGT) was mentioned in relation to slow sales in February through April, which may indicate a challenging retail environment.
Target's mention in the article is in the context of slow sales in February through April, which may indicate a challenging retail environment. However, the impact on Target's stock price is not directly linked to the news about Big Lots.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Walmart (NYSE:WMT) was mentioned in relation to slow sales in February through April, which may indicate a challenging retail environment.
Walmart's mention in the article is in the context of slow sales in February through April, which may indicate a challenging retail environment. However, the impact on Walmart's stock price is not directly linked to the news about Big Lots.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50