(CercleFinance.com) – Oddo BHF confirms its ‘outperformance’ rating on Bic shares with a price target raised from 73 to 79 euros.
The analyst indicates that with the ‘Horizon’ strategic plan, ‘growth has clearly recovered and management even raised its expectations in September (+5/7% at cc vs ~5% initially)’.
Oddo BHF estimates that the next step will now be the improvement of the MOP (+150 bp by 2025) and the FCF (> 220 ME from 2024 vs > 200 MEe previously).
‘This performance should help reduce a particularly high valuation discount,’ concludes the broker.
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