JPMorgan analyst Matthew Boss upgraded Ollie’s Bargain Outlet to Overweight from Neutral with a $105 price target. The firm sees a lateral competitive disruption opportunity as a potential catalyst for Ollie’s to opportunistically accelerate the pace of both same-store sales growth and unit growth, the analyst tells investors. The stock is currently trading at a discount to its pre-pandemic multiple, but the firm projects FY23-FY25 same-store sales growth of 3.1%, or about 150 basis points above the three-year pre-pandemic average, the analyst tells investors.
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