2239 GMT - Costume jewelry retailer Lovisa gets a new bull in Canaccord Genuity, which highlights a more appealing risk-reward backdrop. Canaccord's upgrade to buy, from hold, is based on confidence in FY 2027 earnings as Lovisa accelerates the roll out of new stores. Canaccord also sees "potential scope to sweat operating costs after a period of heavy investment." Lovisa's share price has fallen some 30% over four months, moving its price-to-earnings multiple closer to a level that has provided attractive entry points in the past. Still, analyst Allan Franklin says concerns around immediate-term consensus forecasts remain and cost growth could be higher than expected in FY 2026. "We don't, however, see these concerns outweighing the attractiveness of the investment opportunity on offer," Canaccord says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 14, 2026 17:39 ET (22:39 GMT)
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