Lovisa Sparkles Again as Store Growth Accelerates, MS Says -- Market Talk

Dow Jones
2025/01/17

2313 GMT - Costume jewelry retailer Lovisa could add more stores than the market expects through FY 2026, suggests Morgan Stanley, upgrading the stock to overweight, from equal-weight. Data point to an acceleration in store growth in January. "If the run-rate is sustained, we think this will be positively received by the market given store growth is the key share price driver, in our view," says analyst Joseph Michael. Lovisa's shares are down around 1/4 since hitting a high in August. That makes the risk-reward on offer increasingly attractive for investors, says Morgan Stanley, raising its price target by 12% to A$32.00/share. Lovisa ended Thursday at A$27.18. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

January 16, 2025 18:13 ET (23:13 GMT)

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