Ollie’s Bargain Outlet price target raised to $100 from $90 at Loop Capital

Loop Capital raised the firm’s price target on Ollie’s Bargain Outlet to $100 from $90 and keeps a Buy rating on the shares. The company reported a better than expected Q1 and also raised its FY24 guidance, the analyst tells investors in a research note, stating that the firm was particularly impressed by the gross margin expansion and SG&A expense leverage, the analyst tells investors in a research note. Ollie’s ability to “comp the comp” in Q1 also runs counter to the primary current bear argument surrounding the stock, the firm added.