** Shares of Lovisa Holdings LOV.AX rise as much as 6.7% to A$30.78, on track for best session since August 27, if gains hold

** Morgan Stanley upgrades the stock to "overweight"

** Recent fall in stock was on temporary issues like the timing of new store openings and choppy like-for-like sales, brokerage says

** Adds the jewellery retailer's fast-fashion mode is based on quick product turnaround and strong supply chain execution and is hard for others to copy at its scale and low prices

** Says consensus expects about 1,500 stores by FY30 and 1,900 by FY35, with potential for 2,000+ longer term

** Six of 13 analysts rate the stock "buy" or higher, another six "hold", and one "sell"; their median price target is A$35.40, as per data compiled by LSEG

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com; ))