Loop Capital analyst Anthony Chukumba lowered the firm’s price target on Ollie’s Bargain Outlet to $45 from $50 and keeps a Hold rating on the shares. The company’s Q3 earnings miss was consistent with his September channel checks, when he was "decidedly underwhelmed by the merchandise assortment", the analyst tells investors in a research note. Chukumba further notes that he continues to believe that "repeated disappointments" at Ollie’s call into question the company’s long- term earnings prospects as well as its management’s credibility.
Published first on TheFly
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