Bank of America (Merrill Lynch) Issues a Upgrade for Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) from a “Neutral” to “Buy” Rating

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Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) Stock Upgrade

In analysts report published on Friday morning, expert analysts at the Bank of America (Merrill Lynch) equity research division lifted shares of Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) stock from a “Neutral” to a respectable “Buy” rating.

From a total of 7 analysts covering Ollie's Bargain Outlet Holdings (NASDAQ:OLLI) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 71% of the ratings are positive. The highest target price is $24 while the lowest target price is $19. The mean of all analyst targets is $21.29 with a 31.55% above today’s ($16.83) stock price. Ollie's Bargain Outlet Holdings was the topic of 9 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. Credit Suisse upgraded shares on October 2 to “Outperform” rating. Bank of America initiated shares with “Neutral” rating and $22 target share price in a report from an August 10. JP Morgan initiated OLLI stock in a recent report from August 10 with “Overweight” rating. Finally, Piper Jaffray initiated the stock with “Neutral” rating in a report issued on an August 10.

Approximately 380,993 shares of stock traded hands or 120.32% up from the average. Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) has risen 6.00% since November 11, 2015 and is uptrending. It has outperformed by 9.02% the S&P500.

Ollie’s Bargain Outlet Holdings, Inc. is a retailer of closeouts, excess inventory and salvage merchandise. The company has a market cap of $972.62 million. The Company, through its wholly owned subsidiary, Ollie’s Bargain Outlet, Inc., offers products of various categories, including housewares, food, books and stationery, bed and bath, floor coverings, toys and hardware. It currently has negative earnings. It offers products under various brands, such as Ollie’s, Ollie’s Bargain Outlet, Ollie’s Army, Real Brands! Real Bargains! and Good Stuff Cheap.

According to Zacks Investment Research, “Ollie’s Bargain Outlet Holdings, Inc. is a retailer of closeouts, excess inventory and salvage merchandise. The Company’s product includes housewares, food, books and stationery, bed and bath, floor coverings, toys and hardware. Its brand portfolio consist of Ollie’s, Ollie’s Bargain Outlet, Ollie’s Army, Real Brands! Real Bargains! and Good Stuff Cheap. The company operates primarily in Alabama, Delaware, Georgia, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia. Ollie’s Bargain Outlet Holdings, Inc. is based in Harrisburg, United States.” Get a free copy of the Zacks research report on Ollie’s Bargain Outlet Holdings Inc (OLLI).

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