Australia's Lovisa Holdings jumps; UBS upgrades to 'buy'

Lovisa Holdings

08/04/2026 05:01

** Jewellery retailer Lovisa Holdings LOV.AX jumps as much as 13.6% to A$24.34, highest since February 27

** Stock logs largest intraday pct gain since August 2025

** UBS upgrades to "buy" from "hold"; but cuts PT to A$29 from A$26 to reflect lower earnings

** Flags stock price has fallen significantly so far in 2026, with risks of slower FY26 new-store sales growth, like-for-like sales growth, lower earnings

** However, says risks more priced in, given share price and price-to-earnings multiple decline

** Adds management unlikely to tolerate losses in Jewells brand for long-term, making risk rewards attractive

** YTD, LOV down ~18%

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))