Bic: Oddo BHF still a buyer
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Bic shares, with an unchanged target price of E73.
Last night, the company announced the acquisition of Tangle Teezer, a high-quality detangling hairbrush brand. Based in London, this company is expected to generate sales of over E70m in 2024, representing around 3.2% of Bic's consolidated sales.
Oddo BHF reports that Tangle Teezer's sales have doubled over the last 4 years (representing around a 19% CAGR), and that the company has significant development potential, with a market size estimated at E4.5bn, growing at 10% per year.
The analyst points out that this external growth operation does not come as a total surprise.We were convinced that new acquisitions could materialize in the short/medium term, probably larger in size than those made to date, but without being transformative.
Finally, Bic has indicated that it is preparing the departure of its CEO Gonzalve Bich. A transition process is underway, with the aim of appointing a new CEO by 30 September 2025.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Last night, the company announced the acquisition of Tangle Teezer, a high-quality detangling hairbrush brand. Based in London, this company is expected to generate sales of over E70m in 2024, representing around 3.2% of Bic's consolidated sales.
Oddo BHF reports that Tangle Teezer's sales have doubled over the last 4 years (representing around a 19% CAGR), and that the company has significant development potential, with a market size estimated at E4.5bn, growing at 10% per year.
The analyst points out that this external growth operation does not come as a total surprise.We were convinced that new acquisitions could materialize in the short/medium term, probably larger in size than those made to date, but without being transformative.
Finally, Bic has indicated that it is preparing the departure of its CEO Gonzalve Bich. A transition process is underway, with the aim of appointing a new CEO by 30 September 2025.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.