JPMorgan analyst Matthew Boss upgraded Ollie’s Bargain Outlet to Neutral from Underweight with a price target of $66, up from $56. After meeting with management, the analyst has greater confidence that Ollie’s can return to its historical 1%- 2% same-store-sales algorithm. The company is experiencing strong closeout deal flow, an improving competitive backdrop relative to fiscal 2022, and a margin recapture opportunity tied to the supply chain, the analyst tells investors in a research note.
Published first on TheFly
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