Bic: UBS maintains buy rating, trims target price

(CercleFinance.com) - UBS reinstates its "buy" rating on Bic shares, despite reducing its target price for them from 77 euros to 73 euros, with its new target price still giving the stock upside potential of 26% for the stock of the manufacturer of pens, lighters and disposable shavers.


The broker believes that Bic's Q3 EBIT, which was 12% lower than expected, "should not hide better than anticipated OSG momentum and return to margin expansion from Q4".


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