Jefferies reiterates a Buy rating and $23.00 price target on Ollie's Bargain Outlet (NASDAQ: OLLI) following the company's 2Q15 earnings results. Q2 adjusted EPS of $0.15 beat Street expectations for $0.12.

Analyst Daniel Binder commented, "OLLI beat the all-important first quarter following the IPO, which should enhance credibility and the stock multiple. Q2 adjusted EPS of $0.15 handily beat Street expectations for $0.12, reflecting broad-based comp store sales strength. Merchandise margin was impressive, up 25 bps on increased scale and strong deal flow. Some may interpret 2H guidance as conservative, but we like the under promise and over deliver approach."

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 $17.09 yesterday.