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Fly News Breaks for October 15, 2019
OLLI
Oct 15, 2019 | 06:34 EDT
RBC Capital analyst Scot Ciccarelli upgraded Ollie's Bargain Outlet to Outperform from Sector Perform with a price target of $67, up from $65. The analyst notes that the stock has come off by about 40% from its recent highs because of poor Q2 results and reduced expectations for the back half of 2019, but sees these issues as "self-induced" and easing by Q1 of next year. Ciccarelli acknowledges that his upgrade may be "early", but he believes that long-term investors can "get paid" given the stock's potential to compound earnings.
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