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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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