Loop Capital upgraded Ollie’s Bargain Outlet to Buy from Hold with a price target of $90, up from $80, implying 26% upside from current levels. The firm is becoming increasingly confident in Ollie’s ability to “comp the comp” in fiscal 2024 against a difficult comparison given the “still highly uncertain” U.S. macroeconomic environment. The analyst says the closeout market is growing and the company has burgeoning direct manufacturing relationships.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OLLI:
- Ollie’s Bargain Outlet price target raised to $80 from $78 at Truist
- Ollie’s Bargain Outlet price target raised to $100 from $98 at Craig-Hallum
- Ollie’s Bargain Outlet price target lowered to $85 from $88 at JPMorgan
- Options Volatility and Implied Earnings Moves Today, March 20, 2024
- Ollie’s Bargain Outlet sees FY24 adjusted EPS $3.10-$3.20, consensus $3.21
