Ollie's Bargain Outlet (OLLI) PT Raised to $156 at Craig-Hallum

Craig-Hallum analyst Jeremy Hamblin raised the price target on Ollie's Bargain Outlet (NASDAQ: OLLI) to $156.00 (from $132.00) while maintaining a Buy rating.

The analyst commented: "Ollie’s delivered another impressive beat and raise in Q2 marked by SSS up 5% despite lapping by far their toughest compare of the year while posting a historic Q2 GM. Several factors are contributing to momentum in the business and laying a foundation for sustained success and potentially above algo results for an extended period. First, the closeout industry is rapidly growing due to the disruption across the retail industry and number of large-scale retailers going bankrupt and/or closing locations. The number and size of competitors for closeout goods has shrunk with OLLI becoming an increasingly trusted partner for manufacturers resulting in more quality deals. In addition, the company has increased its digital marketing efforts which has helped attract a younger and higher-income customer base with Q2 marking the highest growth in Ollie’s Army members in company history. FY25 unit growth was raised again and we suspect the company will sustain outsized unit growth moving forward after the success of buying out leases of failed retailers this year to create warm openings. We are reiterating our BUY rating and raising our Price Target to $156."

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