Shares of Big Lots fell 3.8 percent Monday after Deutsche Bank released a bearish report on the stock.
The bank downgraded the discount retailer to "hold" from "buy" and cut its price target on the company to $47 from $49, citing Wal-Mart's recent success, new overtime pay rules, and more online promotions to get more visibility, as potential headwinds. The stock traded around $43 on Monday.
"On the latter point, we have been disappointed with visit count to Biglots.com (as measured by comScore) given the launch of the new e-commerce transactional site. Net, we see less opportunity for upside to the company's guidance and have lowered our forecast accordingly," Deutsche said in a Monday note to clients.