** Shares of Lovisa Holdings LOV.AX rise as much as 2.1% to A$38.53, their largest intraday pct gain since October 16

** Macquarie says the bankruptcy of jewellery retailer Claire's provides a U.S. market share opportunity of around A$99 million ($64.33 million) per annum in revenue, also sees A$50 million per annum uplift in the UK

** Claire's is the largest U.S./UK competitor for the Australian jewellery brand

** Macquarie sees an opportunity for co to leverage its existing brand and sourcing model for store acquisitions, as the new management remains focused on footprint expansion into higher-income markets

** Brokerage rates the stock "neutral" with target price A$40.9

** Lovisa up 26.5% YTD, including the day's moves

($1 = 1.5389 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))