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Ollie’s Bargain Outlet price target raised to $145 from $118 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Ollie’s Bargain Outlet (OLLI) to $145 from $118 and keeps an Equal Weight rating on the shares. Momentum from store closures and solid closeout availability should continue, as evidenced by the Q2 comp growth of 5% and raised FY25 comp guidance of 3.3% at the midpoint, but the firm is “not inclined to chase the stock” as it thinks the current valuation at peak levels looks “fair” given benefits from weaker competitive pressures will likely level out in the medium-term, the analyst tells investors.

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