Ollie’s Bargain Outlet (OLLI) Stock: $65 Price Target And Overweight

By Amit Chowdhry ● Apr 6, 2022
  • The shares of Ollie’s Bargain Outlet Holdings Inc (NASDAQ: OLLI) have received a $65 price target from Wells Fargo. These are the details.

The shares of Ollie’s Bargain Outlet Holdings Inc (NASDAQ: OLLI) have received a $65 price target from Wells Fargo. And Wells Fargo analyst Edward Kelly upgraded Ollie’s Bargain Outlet to an “Overweight” rating from an “Equal-Weight” rating while increasing the price target from $45.

Kelly believes that the stock could be on the path of a meaningful move higher. And Kelly noted that the story has admittedly been ugly, but momentum is expected to turn positive in the coming quarters. And the close-out buying environment, which Kelly thinks has been the company’s largest sales issue appears poised to improve. 

Kelly noted that supply chain missteps appear to have been corrected and should provide additional upside. And Kelly sees Ollie’s Bargain as uniquely positioned to benefit from growing consumer headwinds, especially if traditional retail has overcorrected on inventory. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.