Ollie’s Bargain Outlet price target raised to $80 from $71 at Loop Capital

Loop Capital raised the firm’s price target on Ollie’s Bargain Outlet to $80 from $71 but keeps a Hold rating on the shares. The company’s Q2 results were “very impressive”, featuring a fifth consecutive quarter of positive comparable store sales, robust operating margin expansion, and a sizable earnings beat to consensus expectations, the analyst tells investors in a research note. Ollie’s performance provides further evidence that the management has the company solidly on the right track, but with Ollie’s stock up 65% year to date however, a Hold rating remains appropriate, the firm added.