Jefferies Starts Ollie's Bargain Outlet (OLLI) at Buy

Jefferies initiates coverage on Ollie's Bargain Outlet (NASDAQ: OLLI) with a Buy rating and a price target of $23.00.

Analyst commented, "We are upbeat on Ollie’s and believe it has a long runway for profitable store growth. Thus far, management has executed its low cost, low-price value strategy well. Shares could see upside if the company beats on seemingly conservative sales estimates in 2H. This may be achievable if it laps the introduction of coffee pods better than expected and sees some good closeout opportunities stemming from port disruptions earlier in the year."

For an analyst ratings summary and ratings history on Ollie's Bargain Outlet click here. For more ratings news on Ollie's Bargain Outlet click here.

Shares of Ollie's Bargain Outlet closed at $19.94 yesterday.

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