Truist upgrades Ollie’s to Buy on extreme value focus

Truist analyst Scot Ciccarelli upgraded Ollie’s Bargain Outlet to Buy from Hold with a price target of $86, up from $80. After several years of significant sales and earnings volatility, Ollie’s is “settling back into a steady growth algorithm,” the analyst tells investors in a research note. The firm thinks the company’s focus on extreme value will become “increasingly powerful in a modestly slower economic environment.” The stock’s risk/reward has become increasingly favorable following the underperformance over the last six months, contends Truist.