Pandora Gains as JPMorgan Sees Cash Returns: Copenhagen Mover

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Pandora Gains as JPMorgan Sees Cash Returns: Copenhagen Mover
By Christian Wienberg -
2013-10-08T08:28:32Z
Stock Chart for Pandora A/S (PNDORA)
[b]<a href="http://www.jewlerypandora.com">pandora</a>[/b] Pandora A/S (PNDORA) rose the most among
Copenhagen’s benchmark stocks today after JPMorgan Chase &amp; Co.
said the Nordic region’s biggest jewelry maker may increase cash
returns to shareholders.
[b]<a href="http://www.jewlerypandora.com">pandora jewelry cheap</a>[/b] Pandora rose as much as 2.3 percent to 241.20 kroner,
making the stock the biggest winner in the Nasdaq OMX Copenhagen
20 index. (KFX) The shares traded 2 percent higher at 10:04 a.m. in
the Danish capital, with volume at 28 percent of the three-month
daily average.
[b][url=http://www.jewlerypandora.com]pandora outlet online[/url][/b] Pandora on July 30 raised its 2013 revenue and profit
forecasts and two weeks later reported second-quarter net income
that beat analyst estimates as sales of its charms soared.
JPMorgan said today that third-quarter earnings, due Nov. 12,
could be a “further catalyst to the stock” and repeated its
overweight recommendation on the shares.
[b][url=http://www.jewlerypandora.com]pandora jewelry sale[/url][/b] Pandora’s earnings report will confirm “the strong top-line momentum and solid profitability profile,” Chiara Battistini, a JPMorgan analyst, said in a note. “In addition,
in light of the robust cash flow generation and capital
structure policy in place, we deem the potential cash returns
particularly compelling.”
[b][url=http://www.jewlerypandora.com]pandora jewelry wholesale[/url][/b] Pandora, based in Glostrup, Denmark , may report third-quarter net income of 417 million kroner ($75.9 million),
according to the average estimate in a Bloomberg survey of five
analysts. That compares with net income of 380 million kroner a
year earlier. The company has beat analyst net income estimates
in 10 of the last 11 quarters, according to data compiled by
Bloomberg.
[b]<a href="http://www.jewlerypandora.com">pandora jewelry cheap</a>[/b] Investor concern that Pandora’s biggest owners, including
private-equity company Axcel, may sell a large stake could
pressure the share “in coming weeks,” Battistini said. “We
would see any stock weakness and/or pull-back post placement as
an attractive entry point,” the analyst said.
To contact the reporter on this story:
Christian Wienberg in Copenhagen at
[email protected]
To contact the editor responsible for this story:
Tasneem Brogger at
[email protected]
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