Tiger Brokers

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

Reuters
Dec 18, 2024
BUZZ-Ollie's Bargain Outlet rises as Citigroup upgrades stock to 'buy'

** 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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10