(CercleFinance.com) – Bic gained nearly 3% and thus outperformed the trend in Paris, against a backdrop of favorable comments from UBS which reaffirmed its ‘buy’ recommendation, despite a price target lowered from 77 to 73 euros on the stock from the manufacturer of pens, lighters and disposable razors.
The broker estimates that the operating profit for the third quarter, which was 12% lower than expected, ‘should not hide better than expected organic sales growth momentum and a return to margin expansion from the fourth quarter’.