Why Ollie's Bargain Outlet Holdings Crushed the Market This Week

The stock market overall had a relatively good week, but Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) had a spectacular one. The bellwether S&P 500 index inched up by less than 2%, but the discount retailer's stock roared ahead by 16%, according to data provided by S&P Global Market Intelligence.

The company has momentum thanks to encouraging guidance it proffered with its latest set of quarterly results published last month, making it a bright spot in the still fairly unpopular retail sector. Compounding that, this week an analyst upped his price target on the stock.

The analyst is Edward Kelly of top U.S. bank Wells Fargo. On Thursday, Kelly added $5 to his target for Ollie's shares, placing it at $75. He's also maintaining his overweight (read:buy) recommendation on the stock.

Source Fool.com