UPDATE: RBC Capital Downgrades Ollie's Bargain Outlet (OLLI) to Sector Perform

(Updated - January 27, 2022 4:19 PM EST)

RBC Capital analyst Scot Ciccarelli downgraded Ollie's Bargain Outlet (NASDAQ: OLLI) from Outperform to Sector Perform with a price target of $51.00 (from $76.00).

The analyst comments "Recent data points picked up by RBC's digital intelligence strategist have left us increasingly cautious on the current cost environment. Given OLLI's multiple is highly dependent on consistent onalgorithm delivery, we are downgrading shares to Sector Perform until we have better visibility. We are lowering our price target to $51 (from $76) based on 17x our revised FY'23 EPS estimate of $3.02."

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 $44.33 yesterday.

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