Loop Capital analyst Anthony Chukumba upgraded Big Lots to Hold from Sell with a $1 price target. The analyst believes that the stock has limited additional downside risk rather than taking a more bullish view of the company’s fundamentals, noting that a bankruptcy filing is a very real and likely growing possibility. Retreating to the sidelines is prudent however given the firm’s worry that Big Lots stock could catch “meme stock fever”, the firm tells investors in a research note.
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