Ollie’s Bargain Outlet Holding, the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Matthew Boss from J.P. Morgan maintained a Buy rating on the stock and has a $159.00 price target.
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Matthew Boss has given his Buy rating due to a combination of factors that highlight Ollie’s Bargain Outlet Holding’s strong financial performance and growth potential. The company reported a second-quarter adjusted EPS that surpassed expectations, driven by impressive same-store sales growth and an expansion in gross margins. This performance indicates robust demand across various customer demographics and product categories, suggesting a positive trajectory for future sales.
Additionally, management’s optimistic outlook for the fiscal year, including an increased EPS forecast and plans for significant store expansion, further supports the Buy rating. The sustained transaction growth into the third quarter and potential for higher average unit revenue underscore the company’s ability to capitalize on market opportunities. Overall, these elements suggest a promising growth story for Ollie’s, warranting a favorable investment recommendation.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $150.00 price target.