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Wells Fargo upgrades Ollie’s Bargain Outlet, sees stock as undervalued with $130 target amid strong growth outlook

Analyst Insights
01 Apr 2026
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Bullish
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Wells Fargo analyst Edward Kelly upgraded Ollie’s Bargain Outlet to Overweight with a $130 price target, viewing the recent stock selloff as a buying opportunity. Despite a 17.53% drop this year, the firm highlights strong Q4 sales growth, effective cost control, and a positive outlook driven by retail consolidation and trade-down consumer behavior. Management expects solid Q1 results and plans 75 new store openings in 2026, with adjusted EPS guidance of $4.40-$4.50. The upgrade reflects confidence in Ollie’s durable off-price retail model and growth potential despite some margin and tariff risks.

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