Ollie’s Bargain Outlet price target raised to $90 from $87 at Jefferies

Jefferies raised the firm’s price target on Ollie’s Bargain Outlet to $90 from $87 and keeps a Buy rating on the shares following a Q3 beat on the top- and bottom-line that the firm says was driven by broad strength across categories, strong deal flow, and continued improvements in freight and supply chain costs. Ollie’s raised its annual guidance to reflect the Q3 beat and higher Q4 comp expectations, notes the analyst, who is raising the firm’s estimates given the momentum in the business and “solid execution track record.”