Shares of Ollie's Bargain Outlet (OLLI) are soaring 5.00% in intraday trading on Wednesday, buoyed by a wave of positive analyst sentiment. The discount retailer has caught the attention of Wall Street, with multiple firms reiterating their bullish stance on the stock.
KeyBanc analyst Bradley Thomas and Loop Capital Markets analyst Anthony Chukumba both reaffirmed their Buy ratings on Ollie's Bargain Outlet. Truist Securities joined the chorus, maintaining their positive outlook on the company. These endorsements from respected analysts appear to be driving investor confidence and contributing to the stock's significant upward movement.
Adding to the optimistic sentiment, several analysts have adjusted their price targets for OLLI. Truist Securities raised its target price to $128 from $126, while RBC Capital and KeyBanc maintained their targets at $133.00 and $135.00, respectively. Although Piper Sandler slightly lowered its price target to $123.00 from $124.00, the overall analyst consensus remains overwhelmingly positive. This confluence of bullish ratings and mostly maintained or increased price targets seems to be the primary catalyst behind Ollie's Bargain Outlet's impressive 5.00% gain in today's trading session.
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