Ollie’s Bargain Outlet price target raised to $125 from $110 at Jefferies

Jefferies raised the firm’s price target on Ollie’s Bargain Outlet (OLLI) to $125 from $110 and keeps a Buy rating on the shares. Ollie’s Bargain Outlet is the largest player in the attractive and growing closeout space, the firm says. With solid execution and an ample supply of goods, Jefferies points out that fundamental visibility and predictability are high. Real estate opportunities are plentiful, and openings are accelerating. Yet, the company is only in 31 states, which means penetration is still in the early innings, it adds. Jefferies continues to view Ollie’s Bargain Outlet as a best-in-class company that warrants a best-in-class valuation.