Read Why Wells Fargo Is Bullish On This Discount Retailer

by Shivani Kumaresan, Benzinga Staff Writer

July 7, 2022 12:46 PM | 1 min read | Make a Comment

Wells Fargo analyst Edward Kelly raised the price target on Ollie’s Bargain Outlet Holdings Inc OLLI to $75 from $70 and kept an Overweight rating on the shares.
The analyst sees more room for an upside despite the company missing to meet the Street view in the recent quarter.
Kelly believes Ollie’s 40-year celebration flyer is likely to build on a good promotional quarter to date.
In June, the company reported Q1 revenue of $406.7 million, missing the analyst of $417.24 million.
Price Action: OLLI shares are trading higher by 5.86% at $70.15 on the last check Thursday.