BUZZ-STREET VIEW-Analysts unimpressed by jewellery chain Lovisa's first-half results

Reuters
02-25
BUZZ-STREET VIEW-Analysts unimpressed by jewellery chain Lovisa's first-half results

** Australian fast-fashion jewellery chain Lovisa Holdings LOV.AX reports 1H25 NPAT of A$56.9 million ($36.14 million), below the Visible Alpha consensus of A$62 million

** LOV's shares ended 3.8% lower on Monday at A$28.20 per share, after falling as much as 7.8% during the session

** LOV's shares down 6.5% this year, as of last close

CITI CAUTIOUS, JEFFERIES UNIMPRESSED

** Citi hikes PT to A$25.86 from A$25.45, retains "sell" rating

** Cuts FY25 NPAT outlook by 7% driven by slower store rollout, higher costs of doing business and higher tax

** Brokerage says: while there are pleasing recent signs of store rollout accelerating, prudent to wait and see if it sustains over 2H25

** Jefferies trims PT to A$27.00 from A$27.50, retains "hold" rating

** Says "gloss has come off LOV, and management change hasn't helped"

** "Just can't see anything compelling in this story at present", says Jefferies

** Seven of 15 analysts rate the stock "buy" or higher, five "hold" and three "sell" or lower; their median PT is A$28.80, per data compiled by LSEG

($1 = 1.5743 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com))

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