Wells Fargo lowered the firm’s price target on Ollie’s Bargain Outlet to $85 from $88 and keeps an Overweight rating on the shares. The firm sees a choppiness ahead for its traditionally defensive sector, given fundamental concerns and soft-landing optimism. Selectivity seems key, Wells argues, saying it favors names best positioned to navigate the risky backdrop and those with idiosyncratic tailwinds.
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