Savers Value Village initiated with an Overweight at Piper Sandler

Piper Sandler analyst Peter Keith initiated coverage of Savers Value Village with an Overweight rating and $30 price target. As the nation’s largest for-profit thrift retailer, Savers has significant near- and long-term growth potential, considering a “very healthy” industry backdrop, substantial unit growth potential within a fragmented landscape, and growing brand awareness, the analsyt tells investors in a research note. The firm is “increasingly impressed” with the company’s data-driven processes around pricing and merchandising, which it says has helped the company reach an “impressive” EBITDA margin profile.