Ollie’s Bargain Outlet price target raised to $150 from $123 at Piper Sandler

Piper Sandler raised the firm’s price target on Ollie’s Bargain Outlet (OLLI) to $150 from $123 and keeps an Overweight rating on the shares. Fundamentals across the discount retailer space have improved as cleaner stores have allowed for trade-down benefits, but despite solid fundamentals, the set-up is “tricky” as the company likely has to raise the full year outlook to support shares at current levels, the analyst tells investors in a research note.