Pandora AS
PNDORA: XCSE (DNK)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
DKK 6,576.00 | Mjfrtn | Mfgbchv |
Pandora's Q1 Led by Europe on Easy Comparables; Shares Cheap
We are maintaining our fair value estimate for no-moat Pandora as the company delivered solid first-quarter results and raised its outlook for organic revenue growth to 4%-6% from 3%-6% (including a negative 1% impact from the Russia-Ukraine war). This compares with our expectations for 5.5% organic growth. The forecast implies somewhat weaker consumer sentiment in the quarters to come.