UPDATE: J.P. Morgan Upgrades Big Lots on Balanced Risk/Reward

In a report published Monday, J.P. Morgan analyst Matthew R. Boss upgraded the rating on Big Lots (NYSE: BIG ) from Underweight to Neutral, and raised the price target from $28.00 to $32.00. In the report, J.P. Morgan noted, “We are upgrading Big Lots to Neutral from Underweight with the