UPDATE: Ollie's Bargain Outlet (OLLI) PT Raised to $82 at Piper Jaffray Following 1Q Beat
(Updated - June 6, 2018 7:32 AM EDT)
Piper Jaffray raised its price target on Ollie's Bargain Outlet (NASDAQ: OLLI) to $82.00 (from $71.00) while maintaining a Overweight rating following the company's 1Q. EPS of $0.41 came in above the consensus of $0.37. Comps of +1.9% were roughly in-line with consensus of +2.0%.
In Q2, OLLI will be rolling out both its mobile app as well as a multi-tier "Ollie's General" loyalty program. Q2 represents the toughest compare of the year, but management noted that QTD trends are encouraging.