0915 GMT - Pandora shares still trade on an undemanding valuation multiple, given growth expectations over the next three years, Citi analyst Thomas Chauvet writes. This year has proved challenging, with weaker sentiment and consumption and continued rises in silver prices. These factors have prompted the Danish jeweler to review its product materials strategy for 2026 and rethink pricing architecture. However, Chauvet says sales between 2025 and 2028 are expected to grow at a 6% compound annual growth rate, with EBIT growing 5% and EPS 12%. Delivery of this growth will largely depend on the successful execution of Pandora's strategic shift into a "full jewelry" offering, under the leadership of new CEO Berta de Pablos-Barbier, Citi adds. It retains its buy rating on the stock and 1,105 Danish kroner target price. Shares fall 0.7% to 716.30 kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
December 10, 2025 04:15 ET (09:15 GMT)
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