** Shares of Australia's Nick Scali NCK.AX rise 0.7% to A$18.87
** Analysts at Jefferies begin coverage on the consumer firm with a "buy" rating and a PT of A$21
** PT reflects a 12% upside to stock's last closing price
** Jefferies says co is a leading furniture retailer with long-term growth opportunities in both the UK and ANZ
** Brokerage flags that co remains well-positioned to weather any interest rate cuts, which should back higher consumer confidence and house prices
** Says co has a track record of delivering gross margin expansion in ANZ, which is expected to be seen in the UK as well
** We see more upside from expanding proven model in both ANZ and the UK - Jefferies
** NCK stock up 25.7%, YTD
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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