Ollie’s Bargain Outlet price target raised to $88 from $87 at Wells Fargo

Wells Fargo raised the firm’s price target on Ollie’s Bargain Outlet to $88 from $87 and keeps an Overweight rating on the shares. The firm also added Ollie’s Bargain Outlet to its Q4 2023 Tactical Ideas List. A continued strong buying environment, growing trade-down, margin tailwinds, and conservative guidance, suggest the company is poised to beat and raise against a tough backdrop, Wells says. The firm remains a buyer, and has taken its estimates and target price higher.