Ollie’s Bargain Outlet price target raised to $107 from $100 at Piper Sandler

Piper Sandler raised the firm’s price target on Ollie’s Bargain Outlet (OLLI) to $107 from $100 and keeps an Overweight rating on the shares. The firm remains positive on Ollie’s fundamentals following recent store checks. Piper’s pricing analysis showed that Ollie’s continues to offer items at a sizable discount to both Walmart (WMT) and Amazon (AMZN) on branded items, the analyst tells investors in a research note. In addition, the recent heat wave in the eastern half of the U.S. presents an ideal selling environment for high-ticket window air condition units at Ollie’s, the firm adds. Piper also believes a Big Lots bankruptcy would be a solid long-term benefit to Ollie’s.