Ollie's Bargain Outlet rises as Citigroup upgrades stock to 'buy'

Ollie's Bargain Outlet Holdings

18/12/2024 14:46

** Off-price retailer Ollie's Bargain Outlet's  OLLI.O 
shares rise 1.5% to $116.68 in early trade
    ** Brokerage Citigroup raises rating to "buy" from "sell"
and hikes PT to $133 from $64
    ** New PT is a 15.7% premium to stock's last close
    ** Brokerage says OLLI is in position to do well in a tough
retail landscape where consumers are looking for discounts and
value
    ** "OLLI’s agile buying organization is set to capitalize on
merchandise disruption from retail closures, supply chain, and
tariffs turmoil" - Citigroup
    ** Brokerage says OLLI's competitive positioning is getting
stronger as it adds more stores and the company is poised for
success in the closeout business space 
    ** Stock has risen 51% YTD, as of last close 

 (Reporting by Aamir Sohail in Bengaluru)
 ((Aamir.Sohail@thomsonreuters.com;))