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Fly News Breaks for December 11, 2019
OLLI
Dec 11, 2019 | 07:56 EDT
RBC Capital analyst Scot Ciccarelli raised his price target on Ollie's Bargain Outlet to $76 and kept his Outperform rating after its slightly better than expected Q3 comps, even though they remained negative on lingering impact of "excess cannibalization/reverse waterfall". Despite the negative comps, the analyst notes that Ollie's grew its EBIT by 22% on strong unit growth and also posted higher than expected gross margins, refuting some of the arguments from the bearish side.
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