Savers Value Village price target lowered to $11 from $12 at Piper Sandler

Piper Sandler lowered the firm’s price target on Savers Value Village (SVV) to $11 from $12 and keeps a Neutral rating on the shares ahead of Q1 earnings based on lower comparable sales estimates for Q1. While the firm would expect Savers Value Village to be a trade down beneficiary during a period with higher gas prices, there is a lower-income element to its business that may have slowed spending recently. 2026 should see EBITDA margin hold flat year-over-year, but Q1 is expected to see pressure from store openings and the loss of a selling day in Canada.