Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- Copenhagen-listed Pandora (CSE:PNDORA) was initiated with a "buy" rating by Deutsche Bank (ETR:DBKGn), with analysts setting a target price of DKK1,325. The stock last closed at DKK1,136.50.
Analysts noted that Pandora stands out in a market increasingly defined by luxury positioning.
Instead of shifting toward premium pricing, the Danish jewellery company remains committed to its mass-market identity.
The brokerage said this strategy positions Pandora to benefit from a growing consumer preference for branded over unbranded jewellery.
The company currently holds a 1.6% share of the global jewellery market. While that figure reflects its limited category focus, particularly on charm bracelets, analysts pointed out that Pandora has reached higher single-digit shares in more mature markets.
Expansion into new product segments is underway and, according to Deutsche Bank, is starting to show traction.
Pandora’s vertically integrated business model and transparent communication were highlighted as strengths, particularly in a challenging macroeconomic environment.
“Pandora has also proven its ability to deliver compelling operating economics, and reassuringly against the current backdrop, the value of vertical integration and transparent communication,” Deutsche Bank said.