Ollie’s Bargain Outlet Holding, the Consumer Defensive sector company, was revisited by a Wall Street analyst yesterday. Analyst Lorraine Hutchinson from Bank of America Securities reiterated a Buy rating on the stock and has a $150.00 price target.
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Lorraine Hutchinson’s rating is based on Ollie’s Bargain Outlet Holdings’ strong financial performance and strategic positioning. The company reported third-quarter adjusted earnings per share that exceeded expectations due to better-than-anticipated margins. This positive performance led management to raise their earnings guidance for the fiscal year, reflecting confidence in continued growth.
Additionally, Ollie’s has shown promising sales trends, with improved comparable store sales driven by increased transactions and a strategic shift in product mix. The company’s expansion plans, including the opening of 75 new stores, and its ability to attract younger and high-income customers through digital marketing, further support the Buy rating. These factors, combined with an increased price objective and favorable valuation metrics, underpin Hutchinson’s optimistic outlook on Ollie’s stock.
In another report released today, KeyBanc also reiterated a Buy rating on the stock with a $154.00 price target.