BUZZ-Australia's Lovisa rises; Citi maintains 'sell' over new stores' quality concerns

Reuters
05-27
BUZZ-Australia's Lovisa rises; Citi maintains 'sell' over new stores' quality concerns

** Shares of Lovisa Holdings LOV.AX rise as much as 1.3% to A$28.330

** Analysts at Citi raise questions about Lovisa's quality of new stores as they hit 1,000 stores, according to co's LinkedIn account

** Brokerage maintains target price of A$25.86 per share and "sell" rating for the fast fashion jewellery retailer

** We see risks to long-term rollout expectations given potential operational issues in newer growth markets - Citi

** Brokerage also sees a level of strategic uncertainty following the new CEO commencing in early June

** Stock down 6.1% YTD, including the day's moves

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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