** Brokerage Oppenheimer says discount store operator Five Below FIVE.O will see market share opportunities from store closings at Big Lots BIGGQ.PK
** Five Below's shares up 1.4%
** Discount home goods retailer Big Lots initiated Chapter 11 bankruptcy proceedings on Monday and said it plans to close about 20% of its roughly 1,400 outlets
** Both the companies have significant core customer overlap, with initial store closings at BIGGQ poised to cede market share worth $70 mln-75 mln - Oppenheimer analyst Brian Nagel
** Over time, a complete shutdown of BIGGQ could suggest total addressable market share of $300 mln-320 mln and comp lift of 300-500 bps for Five Below - Nagel
** Brokerage maintains cautious stance on Five Below due to pressures being faced by low-to-middle income consumer
** 10 of 24 brokerages rate Five Below's shares "buy" or higher, 14 "hold"; median PT $100 - LSEG
** Including session's move, company's shares down almost 60% YTD
(Reporting by Savyata Mishra in Bengaluru)