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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OLLI:
- Ollie’s Bargain Outlet: Strong Financial Performance and Growth Potential Justify Buy Rating
- Ollie’s Bargain Outlet price target raised to $145 from $130 at BofA
- Ollie’s Bargain Outlet price target raised to $140 from $125 at UBS
- Ollie’s Bargain Outlet price target raised to $130 from $105 at Wells Fargo
- Ollie’s Bargain Outlet price target raised to $154 from $133 at Citi