On Wednesday, Piper Sandler adjusted its price target for Ollie's Bargain Outlet (NASDAQ:OLLI), bringing it down to $92 from the previous $93. Despite this slight decrease, the firm maintains an Overweight rating on the discount retailer's shares.
The adjustment came following the company's release of its fourth-quarter results. Piper Sandler noted the outcomes as solid, reflecting a positive performance for the quarter. The firm also commented on the company's guidance for 2024, labeling it as reasonable and indicating a favorable outlook for the upcoming year.
In addition to the financials, Piper Sandler highlighted an increase in Ollie's Bargain Outlet's new store target. This development suggests an expansion strategy that could potentially drive future growth for the company. The raised store target aligns with the firm's continued Overweight rating, which implies that the analyst expects the stock to outperform the average market return.
Ollie's Bargain Outlet's financial health and strategic plans are of particular interest to investors seeking to understand the company's market position and future prospects. The revised price target reflects the latest available data and expectations regarding the company's performance.
Investors and market watchers will be keeping a close eye on Ollie's Bargain Outlet as it progresses with its store expansion and navigates the retail environment in 2024. The Overweight rating and new price target provide a current snapshot of Piper Sandler's outlook on the stock.
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