Goldman Sachs Downgrades Savers Value Village Inc (SVV) to Neutral

Goldman Sachs analyst Brooke Roach downgraded Savers Value Village Inc (NYSE: SVV) from Buy to Neutral with a price target of $10.00 (from $14.00).

The analyst comments "We downgrade SVV to Neutral from Buy and lower our 12-month price target to $10 from $14. Our initial thesis was based on SVV's market share leadership position in a structurally growing category with an accelerating unit growth story. Our attractive view also favored SVV's flexible operating model which would help insulate profits from revenue headwinds should they arise. While we continue to view SVV as an attractive market-share gainer in the thrift category, we now have less conviction in the outlook for sales and margin outperformance given strengthening headwinds in the Canadian market which are weighing on SVV's ability to protect profitability."

For an analyst ratings summary and ratings history on Savers Value Village Inc click here. For more ratings news on Savers Value Village Inc click here.

Shares of Savers Value Village Inc closed at $9.68 yesterday.

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