Shares of Australia’s Lovisa Holdings (ASX:LOV) witnessed an increase of up to 1%, reaching A$30.85 and experiencing their greatest intraday gain since February 29th.

This progress comes after analysts at UBS elevated their price target on the company to A$27.50 from A$24, while maintaining a neutral stance.

The security firms highlighted that the like-for-like sales growth trajectories for Lovisa Holdings are on an uptrend, which they foresee as a primary focus and earnings propellant.

UBS also anticipates that the EBITDA margins are likely to grow starting from the 2025 financial year, indicating continued faith in the company’s gross margin expansion.

Among 14 analysts, nine have given this stock a rating of ‘buy’ or higher, four gave ‘hold’, and one rated it as ‘Strong sell’, with their median price target being A$28.60, according to LSEG data.

The company’s stock has increased by 24.9% this year, as recorded at the previous closing.

Lovisa Holdings is an Australian fashion jewelry and accessories retailer.