Ollie’s Bargain Outlet price target raised to $101 from $86 at RBC Capital

RBC Capital raised the firm’s price target on Ollie’s Bargain Outlet to $101 from $86 and keeps an Outperform rating on the shares after its Q1 earnings beat and guidance raise. The compares over the next two quarters are somewhat worrisome, but Q2-to-date trends seem to have been strong enough to absorb the likely negative comps in July, the analyst tells investors in a research note. Risk to reward is less attractive at current levels, though the firm is also adjusting its assumed forward earnings multiple to 27-times from 25-times, RBC added.