UPDATE: Canaccord Genuity Downgrades Big Lots to Hold; Underlying Fundamentals Weak

Canaccord Genuity downgraded Big Lots (NYSE: BIG ) from Buy to Hold and raised the price target from $38.00 to $39.00. Canaccord Genuity commented, "The company has not improved its product assortment at the rate we had anticipated, resulting in continued SSS declines and gross margin contraction. This resulted