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Ollie’s Bargain Outlet price target raised to $130 from $105 at Wells Fargo

Wells Fargo raised the firm’s price target on Ollie’s Bargain Outlet (OLLI) to $130 from $105 and keeps an Equal Weight rating on the shares. The firm notes the company delivered an encouraging Q2 beat and raise that leaves room for further earnings upside ahead. The bar is high for this crowded stock, but momentum seems good and Q2 provided strong evidence against Wells’ recent concerns. The firm remains on the sidelines on valuation.

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