Tag #Olli's Bargain Outlet

What is the primary reason behind Citi's upgrade of Ollie's Bargain Outlet stock and what are the immediate implications for the company?

Citi analyst Steven Zaccone upgraded Ollie's Bargain Outlet (OLLI) stock to "buy," raising the price target to $133 from $64, citing the company's strong position in the uncertain retail landscape and its ability to capitalize on market disruptions. OLLI's success is attributed to its "treasure hunt" shopping experience and agile buying organization, which has allowed it to increase store count by 8% year-over-year to 546 stores.