Savers Value Village initiated with a Buy at Guggenheim

Guggenheim analyst Robert Drbul initiated coverage of Savers Value Village with a Buy rating and $28 price target. Savers Value Village, the number one for-profit thrift retailer in the U.S. and Canada, is nine times larger than the closest for-profit competitor, notes the firm, which believes the growth opportunity for the company is “compelling” given a meaningful whitespace opportunity with 2,200 potential new locations, its “extreme value proposition,” a shift towards secondhand and its treasure hunt shopping experience.