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Bic: weighed down by a broker downgrade

( - Bic's share price is down 4% after UBS downgraded its recommendation on the supplier of disposable pens, lighters and razors from 'buy' to 'neutral', despite raising its target price from 70 to 74 euros.

In the summary of its research note, the broker explains that 'despite the improvement in operating performance in the medium term thanks to the Horizon plan', it foresees 'a number of short-term headwinds'.

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