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Fly News Breaks for August 29, 2019
OLLI
Aug 29, 2019 | 07:54 EDT
Credit Suisse analyst Judah Frommer lowered his price target for Ollie's Bargain Outlet to $78 from $103 after the company posted its first negative comp as a public company and has experienced its first major operational misstep that he can recall. The analyst continues to view the company as insulated from online competition, tariffs, FX, and economic slowdown; and believes a sizeable white space opportunity and improving real-estate profile should underscore elevated new store productivity, the key driver of top-line growth, and sustained mid- high-teens earnings growth. He reiterates an Outperform rating on the shares.
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