Pandora's new CEO is taking the company in the right direction, UBS says, lifting its rating on the Danish jeweler to neutral from sell. Berta de Pablos-Barbier, who took the reins earlier this year, has set out new plans including a range of platinum-based jewelry aimed at limiting the group's exposure to swings in silver prices. "This should help offset commodity and FX headwinds and support a gradual margin recovery," UBS says. "We see the brand moving in the right direction under the new CEO." The Swiss bank lifts its target price on the stock to 757 kronor. Shares gain 4.25% to 774.6 kronor. (joshua.kirby@wsj.com; @joshualeokirby)