Bic: UBS on hold, cuts target price
(CercleFinance.com) - While maintaining its "neutral" rating on Bic shares, UBS has lowered its target price for them from E67 to E62, a new TP that implies 8% upside potential for the stock of the manufacturer of disposable pens, lighters and shavers.
The broker forecasts Q2 organic sales growth of 2% and an adjusted EBIT margin of 16.2% (-30bp y-o-y), which puts its estimate for quarterly profit 2% below the consensus.
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