Ollie’s Bargain Outlet price target lowered to $46 from $50 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on Ollie’s Bargain Outlet to $46 from $50 and keeps a Hold rating on the shares. The analyst cites the company’s Q3 earnings miss and FY22 guidance cut, stating that its sales "remain constrained" and its margins are yet to fully recover from historical levels. Ciccarelli adds that the company’s discretionary mix, a mismatch of their business model vs. inventory overages, and competitor discounting may be factors in Ollie’s business remaining "challenged".