Ollie’s Bargain Outlet price target raised to $105 from $95 at Wells Fargo

Wells Fargo raised the firm’s price target on Ollie’s Bargain Outlet (OLLI) to $105 from $95 and keeps an Equal Weight rating on the shares. The Q3 update provided fuel to the bull case, the firm says. While Wells saw encouraging data points, it remains concerned about the set-up from here. Ollie’s Bargain Outlet’s laps a robust backdrop, “BIG expectations seem too high,” and valuation leaves little room for error, says the firm.