RBC Capital raised its price target on Ollie's Bargain Outlet (NASDAQ: OLLI) to $63.00 (from $59.00) while maintaining a Outperform rating, following the company's fourth quarter earnings report.

Analyst Scot Ciccarelli notes a positive outlook on the shares, as the company reported fourth quarter earnings per share and revenue results above consensus estimates driven by accelerating same store sales growth during the 9-week holiday period, pointing to positive current trends.