Jeweler Pandora tumbles as analyst cautions over volatile silver
A Pandora Bracelet at the PANDORA Concept Store.
Franziska Krug | German Select | Getty Images
Pandora, the world’s largest jeweler, fell almost 7% after analysts warned it would struggle amid the volatile price of silver, downgrading it from Buy to Hold.
“The confluence of a more pressured consumer and heightened silver mean the business is caught between a rock and a hard place,” Jefferies analysts said in a Tuesday note.
“The most pernicious problem will be a long-lasting hesitancy to engage in the name, given silver price moves. This means that even if silver retrenches and the stock lifts on mechanical earnings momentum, investor engagement will be slow in returning,” the note added.
Pandora stock was down 6.7% in afternoon trading,…
