Ollie’s Bargain Outlet price target raised to $59 from $46 at Truist

Truist raised the firm’s price target on Ollie’s Bargain Outlet to $59 from $46 but keeps a Hold rating on the shares. The company’s Q4 sales were better than expectations, while its gross margins missed the firm’s estimates but still improved by 100bps from last year, the analyst tells investors in a research note. Truist adds however that while the results are encouraging and the company appears to be returning to a more normalized sales/earnings cadence, the risk-reward on the stock is fairly balanced at current levels.