Ollie's Bargain Outlet, a leading discount retailer, has received a price target increase from Craig-Hallum following its strong performance in the fourth quarter of fiscal year 2023. The company reported better-than-expected same-store sales and beat earnings per share estimates. As a result, Craig-Hallum has maintained its Buy rating on Ollie's and raised its price target to $100 from $98 [f8f4e31a].
Ollie's Bargain Outlet's guidance for fiscal year 2024 indicates a return to its long-term growth pattern, with a projected 1% to 2% increase in comparable store sales. The company plans to open 50 new stores and has increased its long-term store target to 1,300 locations. Craig-Hallum believes that Ollie's remains a leading growth narrative within the retail sector [f8f4e31a].
Lifetime Brands, a provider of kitchenware and home solutions, received a stock price target increase from DA Davidson to $11.50, up from the previous $9.50. The adjustment follows the company's reported fourth-quarter earnings for 2023, which surpassed expectations, particularly noting a significant uptick in international organic sales. Lifetime Brands is set to launch a new product line in collaboration with Dolly Parton, which will be distributed across Dollar General's network of 20,000 stores. DA Davidson anticipates that Lifetime Brands will provide its financial guidance for 2024 in May. The firm has increased its annual EBITDA estimates for the company, with projections for 2024 up by 4% and for 2025 by 6%. The new price target is based on a multiple of 6.5 times the estimated EBITDA for 2025, which has been revised upward from $62 million to $66 million. The analyst from DA Davidson expressed confidence in the potential for Lifetime Brands' stock valuation multiple to expand [818f2e37].