Bic: down 9%; an analyst provides forecasts.
(CercleFinance.com) - The Bic stock is down 9% today after the announcement group issued a warning about its 2017 sales.
Bic now forecasts organic growth of under 2% (vs. +3%/+4% previously).
The group expects lower-than-expected growth in the US (39% of consolidated sales) in Lighters and Razors.
The slowdown is stronger than expected in South America, mainly in Brazil (around 8% of sales). This underperformance is affecting all its three categories (Stationery, Razors, Lighters).
Oddo BHF has confirmed its Neutral rating on the stock, while reducing its target price to 115 euros (vs. 123 euros).
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Bic now forecasts organic growth of under 2% (vs. +3%/+4% previously).
The group expects lower-than-expected growth in the US (39% of consolidated sales) in Lighters and Razors.
The slowdown is stronger than expected in South America, mainly in Brazil (around 8% of sales). This underperformance is affecting all its three categories (Stationery, Razors, Lighters).
Oddo BHF has confirmed its Neutral rating on the stock, while reducing its target price to 115 euros (vs. 123 euros).
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.