What Happened?
Shares of discount retail company Ollie’s Bargain Outlet (NASDAQ: OLLI) jumped 3% in the afternoon session after analysts at JPMorgan and KeyBanc raised their price targets for the company's stock. JPMorgan increased its price target on the company's shares to $160 from $159, while KeyBanc lifted its target to $154 from $145. These upward revisions pointed to a more optimistic outlook for the company's future performance among market watchers. Adding to the positive sentiment, financial news personality Jim Cramer also expressed strong support for the stock, stating he was a member of 'Ollie's army' and would not doubt the company.
The shares closed the day at $124.30, up 2.9% from previous close.
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What Is The Market Telling Us
Ollie’s shares are somewhat volatile and have had 14 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 5.9% on the news that financial institutions, including JPMorgan and KeyBanc, raised their price targets for the company, citing its strong market position and growth potential. The positive view was also bolstered by the company's strategic initiatives and a record-setting year of expansion. The discount retailer announced plans to open nine more stores across seven states. This growth followed the company's acquisition of dozens of former Big Lots locations, allowing it to move aggressively into new territory.
Ollie's is up 14.8% since the beginning of the year, but at $124.29 per share, it is still trading 11.7% below its 52-week high of $140.80 from August 2025. Investors who bought $1,000 worth of Ollie’s shares 5 years ago would now be looking at an investment worth $1,460.
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