Citi trims PT, FY25 estimate for Australia's Lovisa Holdings
** Analysts at Citi cut price target (PT) for Lovisa Holdings LOV.AX by 2% to A$25.45
** Brokerage maintains "Sell" rating for the company over concerns including quality of the new stores being opened, CEO transition & potential for further management departures
** Following the fast-fashion jewellery retailer's weaker-than-expected trading update on Friday, Citi cuts FY25 NPAT forecast for co by 4%, reflecting slowdown in sales momentum, but raises FY26 & FY27 NPAT forecasts by 2% on gaining confidence in co's ability to roll out stores over medium term
** "Our new 1H25 LFL (like-for-like) sales forecast (+1%) implies no further moderation in growth over the remaining 6 weeks of the period" - Citi
** Five of 15 analysts rate the stock "buy", seven "hold" and three "sell" or lower; their median PT is A$28.75 – LSEG data
** Stock was down 11.1% YTD, as of last close
Reporting by Sherin Sunny in Bengaluru
Editing by Ros Russell
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