** Lovisa Holdings LOV.AX on Friday logged global comparable store sales growth of 3.5% in first 20 weeks of FY26

** Jewellery retailer's sales growth misses VA consensus estimate of 5.3% growth for 1H26

** Comparable sales growth for first 20 weeks of FY26 also weakens compared to 5.6% growth in first 8 weeks of same fiscal

** Stock closed down 13.8% at A$30.02 on Friday, its lowest level since July 3

** Lovisa slightly down 0.5% so far this year, as of last close

BROKERAGES CUT EARNINGS VIEW, BUT SEE POTENTIAL FOR REBOUND

** Jefferies trims PT to A$33.4 from A$37, also cuts revenue estimate by 2% for fiscals 2026-2028 each citing insipid consumer conditions

** Brokerage, however, continues to view co as a "quality retail growth story", with a highly differentiated business model

** Citi cuts TP by 10% to A$38.45 but maintains "buy" rating on expectations of improving comparable sales

** Brokerage flags, however, that the benefits anticipated from rival Claire's disruption and co's store refurbishments may take longer than anticipated

** Morningstar lowers revenue forecast by 3% for fiscal 2026, but forecasts sales momentum to rebound with average same-store-sales of 4% in FY26 on the expectation of global store network expanding; maintains fair value estimate A$26

** Analysts on average rate the stock "hold"; their median PT is A$38.03 - LSEG data

(Reporting by Nikita Maria Jino in Bengaluru; editing by Diane Craft)

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