0105 GMT - Lovisa gets a new bull at UBS on the stock's underperformance since last month's annual result announcement. Shares in the fashion jewelry retailer jumped 13% on the Aug. 26 announcement, but retreated 22% across the next 12 sessions. Raising his recommendation to buy from neutral, UBS analyst Shaun Cousins tells clients in a note that risk reward now looks attractive. He points out that the consensus price-to-earnings multiple has fallen to 20.3X from 27.8X at the start of the year, even as store network expansion and improved operations support sales growth and mitigate competition threats. UBS maintains a target price of 28.00 Australian dollars. Shares are up 3.1% at A$22.30.
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