Truist raised the firm’s price target on Ollie’s Bargain Outlet (OLLI) to $148 from $146 and keeps a Buy rating on the shares following quarterly results. The firm notes Q2 comparable sales of 5% beat its recently raised estimate of 3%. Earnings flow through was also strong, with very strong Q2 gross margins and EBIT margin expansion of 80bps. While Truist notes that the stock is flat due to elevated expectations, it thinks Ollie’s Bargain Outlet has about the best near/medium-term set-up in its universe. Unit growth is accelerating, they are capturing incremental sales from competitive closures, deal flow remains strong, and consumers continue to seek deep value, adds the firm.
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Read More on OLLI:
- Ollie’s Bargain Outlet price target raised to $145 from $140 at Gordon Haskett
- Ollie’s Bargain raises FY25 adjusted EPS view to $3.76-$3.84 from $3.65-$3.75
- Ollie’s Bargain Outlet reports Q2 adjusted EPS 99c, consensus 93c
- OLLI Earnings this Week: How Will it Perform?
- Ollie’s Bargain Outlet price target raised to $150 from $123 at Piper Sandler