Lovisa Bull Sees Cofounder Buying as a Positive -- Market Talk
Dow Jones
Apr 28
0237 GMT - Lovisa's bull at Macquarie is heartened by a recent move by its cofounder to increase his holding. A note from one of the investment bank's analysts informs clients that Chairman Brett Blundy bought A$14 million worth of stock on March 26, which the analyst posits is a positive signal. The analyst acknowledges concern that rising Australian interest rates could hit consumer sentiment but suggests that the fashion jewelry retailer could benefit if buyers trade down from more expensive rivals. Macquarie keeps an outperform rating an A$30.50 target price on the stock, which is down 1.7% at A$23.38. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 27, 2026 22:37 ET (02:37 GMT)
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