** Shares of Navigator Global Investments NGI.AX rise as much as 7.6% to A$2.68, their highest level since March 4, 2020
** Stock eyes its strongest trading session since late August, if gains sustain
** UBS initiates coverage on stock at a "buy" rating and price target of A$3.4, representing a 36.5% premium to last close
** Navigator Global is a diversified alternatives asset manager with a wholly owned hedge fund platform and minority equity stakes across 10 partner firms
** UBS says co is well-positioned to benefit from alternative sector tailwinds, driving assets-under-management (AUM) and earnings growth with its partners delivering robust results
** Adds co has outlined a clear inorganic growth strategy which remains "underappreciated" by the market
** Stock up 55.8% YTD, including the day's moves
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))