Big Lots shares are trading lower after the company reported preliminary Q4 results. Also, Loop Capital downgraded the stock from Hold to Sell and lowered its price target from $6 to $1.
Portfolio Pulse from Benzinga Newsdesk
Big Lots shares dropped following preliminary Q4 results and a downgrade by Loop Capital from Hold to Sell, with a price target reduction from $6 to $1.
February 12, 2024 | 3:48 pm
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NEGATIVE IMPACT
Big Lots' stock price fell due to poor Q4 results and a significant downgrade by Loop Capital, which also lowered its price target from $6 to $1.
The negative impact on Big Lots' stock (BIG) is due to the combination of disappointing preliminary Q4 financial results and a downgrade by Loop Capital from Hold to Sell. The significant reduction in the price target from $6 to $1 further exacerbates the negative outlook, suggesting a lack of confidence in the company's short-term recovery prospects. This combination of factors is likely to lead to a decrease in investor confidence and a drop in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100