Pandora: RBC maintains 'outperform' citing valuation.
(CercleFinance.com) - RBC Capital Markets says it is sticking to its "outperform" rating on Pandora, citing the Danish jewellery maker's low valuation and attractive dividend.
Given softer than expected like-for-like figures in retail, the company will have to make acquisitions in the fourth quarter to maintain its full-year revenue guidance, RBC says.
But high sell-side estimates continue to weigh on the shares, the broker points out, adding that consensus estimates are too high for 2018 and beyond.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Given softer than expected like-for-like figures in retail, the company will have to make acquisitions in the fourth quarter to maintain its full-year revenue guidance, RBC says.
But high sell-side estimates continue to weigh on the shares, the broker points out, adding that consensus estimates are too high for 2018 and beyond.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.