Savers Value Village price target lowered to $13 from $14 at UBS

UBS lowered the firm’s price target on Savers Value Village (SVV) to $13 from $14 and keeps a Buy rating on the shares. The stock is set up well from here, as currency changes shouldn’t be capitalized over the longer-term and the change of its definition of adjusted EBITDA to a more conservative approach, the analyst tells investors in a research note. The company’s profitability is going to be restrained this year by its investments in new stores, though these locations stores contain visible and latent profitability, and the stock still offers more upside from here, UBS argues.