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BUZZ-STREET VIEW-Analysts unimpressed by jewellery chain Lovisa's first-half results

ReutersFeb 24, 2025 9:44 PM

Australian fast-fashion jewellery chain Lovisa Holdings LOV.AX reports 1H25 NPAT of A$56.9 million ($36.14 million), below the Visible Alpha consensus of A$62 million

LOV's shares ended 3.8% lower on Monday at A$28.20 per share, after falling as much as 7.8% during the session

LOV's shares down 6.5% this year, as of last close

CITI CAUTIOUS, JEFFERIES UNIMPRESSED

Citi hikes PT to A$25.86 from A$25.45, retains "sell" rating

Cuts FY25 NPAT outlook by 7% driven by slower store rollout, higher costs of doing business and higher tax

Brokerage says: while there are pleasing recent signs of store rollout accelerating, prudent to wait and see if it sustains over 2H25

Jefferies trims PT to A$27.00 from A$27.50, retains "hold" rating

Says "gloss has come off LOV, and management change hasn't helped"

"Just can't see anything compelling in this story at present", says Jefferies

Seven of 15 analysts rate the stock "buy" or higher, five "hold" and three "sell" or lower; their median PT is A$28.80, per data compiled by LSEG

($1 = 1.5743 Australian dollars)

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