BUZZ-Australia's Lovisa gains; Morgan Stanley raises TP on store growth

Reuters
01-17
BUZZ-Australia's Lovisa gains; <a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> raises TP on store growth

** Jewellery retailer Lovisa Holdings LOV.AX rises 7.6% to A$29.24, highest since Jan. 8

** Morgan Stanley ups PT to A$32.0 from A$28.50

** Sees upside risk to FY25-26 results as co's store growth began accelerating again

** Co added 28+ net stores in January 2024 alone, more than H1 FY25's 21+ net stores

** MS sees higher scaling to improve earnings margins

** Upgrades to "overweight" from "underweight"

** Stock rated "buy" on avg; median PT is A$27.25 – LSEG

** LOV rose 23.3% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))

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