2332 GMT - The incentives offered to Lovisa's new CEO help support confidence that the Australian jewelry retailer can accelerate earnings growth, Macquarie analysts say. They tell clients in a note that John Cheston will have strong motivation to deliver annual earnings growth above 18% once he arrives. They forecast 20% Ebit growth in both FY 2026 and 2027, compared with 14% in the final fiscal year before Cheston starts work. Even without this growth, the Macquarie analysts see benefits to the appointment. Cheston's remuneration is lower than that of his predecessor, which they say will help expand Ebit margins. Macquarie cuts its target price 2.8% to A$34.10 but keeps an outperform rating on the stock, which is down 7.2% at A$27.00. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 17, 2024 18:32 ET (23:32 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。