Benchmark Previews Q2 Earnings at Big Lots

Benchmark has published a research report on Big Lots BIG previewing Q2 earnings. In the report, Benchmark wrote, "Given the solid balance sheet, cash flow, profitability, improving store base, and expanding customer base, which could lead to years of revenue growth, along with possible upside from share repurchases, we maintain our price target of $45, based on 16x our 2011E EPS and 7x our 2011E EBITDA, and maintain our Buy rating." Benchmark rated Big Lots a BUY with a price target of $45.00. Big Lots closed Friday at $30.09.