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Investing.com - KeyBanc raised its price target on Ollie’s Bargain Outlet (NASDAQ:OLLI) stock to $145.00 from $135.00 on Thursday, while maintaining an Overweight rating on the discount retailer. The new target represents the highest among analysts, with current targets ranging from $105 to $145. According to InvestingPro data, the stock is currently trading near its 52-week high of $132.22.
The firm cited a favorable long-term outlook for Ollie’s, naming it one of its top picks for 2025 and a favorite small to mid-cap growth story. KeyBanc believes the company will continue benefiting from store expansion and a favorable closeout environment. The company’s strong momentum is reflected in its impressive YTD return of 19.8% and one-year return of 33.7%. Get access to 16 additional ProTips and comprehensive analysis with InvestingPro.
Recent checks by the firm indicated strong turnout for Ollie’s first-ever June Ollie’s Army Night, suggesting strong momentum in the second quarter to date. KeyBanc noted that comparisons in July are easier, which should continue to support the stock in the weeks ahead.
The firm expects Ollie’s to benefit from the favorable closeout environment, consumers seeking value, and share gains from the Big Lots (NYSE:BIG) bankruptcy in the second half of the year. These factors contributed to KeyBanc’s increased confidence in the company’s long-term outlook.
Ollie’s Bargain Outlet operates a chain of discount retail stores across the United States, offering brand name merchandise at reduced prices through closeout purchases and other sourcing methods.
In other recent news, Ollie’s Bargain Outlet has been the focus of various analyst assessments following its recent financial performance. The company reported a comparable-store sales increase of 2.6%, exceeding both UBS’s estimate of 2.0% and the consensus of 1.7%. UBS maintained a Neutral rating with a $123 price target, emphasizing Ollie’s position to benefit from value-seeking consumers in a challenging economic climate. Meanwhile, Citi reiterated a Buy rating with a $133 price target, highlighting Ollie’s potential market share gains from At Home’s bankruptcy and the impact of its promotional events. Piper Sandler also adjusted its price target slightly to $123, maintaining an Overweight rating due to Ollie’s favorable market position and strong inventory flow from liquidated retailers.
Morgan Stanley (NYSE:MS) kept its Equalweight rating with a $118 price target, projecting potential growth in comparable sales and EBIT margins if current favorable conditions persist. KeyBanc reaffirmed an Overweight rating and a $135 price target, citing strong first-quarter results and the strategic acquisition of Big Lots locations as growth drivers. Analysts from various firms have pointed out Ollie’s ability to capitalize on current market opportunities and navigate economic uncertainties. These developments reflect a mix of optimism and caution among analysts regarding Ollie’s future performance.
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