UPDATE: Truist Securities Starts Ollie's Bargain Outlet (OLLI) at Hold

Truist Securities analyst Scot Ciccarelli initiates coverage on Ollie's Bargain Outlet (NASDAQ: OLLI) with a Hold rating and a price target of $50.00.

The analyst comments "We are bullish on Ollie's strong LDD store growth pace, 2.5x+ expansion potential and solid 60%+ cash on cash returns. However, significant supply chain challenges/ inventory shortages across so many verticals has negatively impacted Ollie’s close-out model and we think trends have to improve to earn back investor confidence and enable the stock to rerate higher. We rate shares Hold."

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 $48.04 yesterday.

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