** Shares of Australia's Premier Investments PMV.AX gain 3.6% to A$24.52; their highest since Jan. 10
** Analysts at Morgan Stanley say the risk/reward scenario is compelling for the firm based on a mix of high quality consumer brands, with multiple growth levers and capital management options
** Interest rate cuts also provide earnings upside risk for PMV - Brokerage
** MS likes co's Peter Alexander and Smiggle brands given they offer differentiated value propositions in niche categories, backed by innovation and branding
** PMV recently merged its Apparel brands with peer Myer MYR.AX, brokerage lowers PT to A$32 from A$37.5 on account of removing the Apparel brands
** PMV up 0.3% YTD
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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