Grace Smalley, an analyst from Morgan Stanley, maintained the Hold rating on Pandora A/S. The associated price target is DKK1,180.00.
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Grace Smalley has given her Hold rating due to a combination of factors impacting Pandora A/S’s recent performance and future outlook. The company’s Q2 results showed a slight miss in like-for-like sales growth, which was below market expectations and marked the first miss in nearly three years for this key performance indicator. This shortfall was attributed to a weaker end-of-season sale and the timing of product launches, alongside challenging macroeconomic conditions in certain markets.
Looking forward, while Pandora has maintained its revenue growth guidance for 2025, there are concerns about the company’s ability to achieve the necessary improvements in current trading amid ongoing macroeconomic uncertainties. Additionally, margin pressures from tariffs, foreign exchange, and commodity costs are expected to persist, potentially impacting profitability in the coming years. These factors contribute to investor skepticism about the company’s ability to meet its targets, justifying the Hold rating.
In another report released on August 11, RBC Capital also maintained a Hold rating on the stock with a DKK1,100.00 price target.