Bic : The group is now targeting the upper end of the full-year guidance range. Outperform rating reiterated. Target price adjusted to € 72 vs € 64
>Road show feedback: Momentum is improving in 2021 - During a road show, the group gave an extensive recap on its Q1 results, which, it should be remembered, showed: 1/ strong growth in consolidated sales of 15.1% with +20.9% like1efor1elike, which came in well ahead of forecasts (+5.4%; consensus +6.2%). 2/ Growth in adjusted operating profit of +139% to € 60.5m (€ 29m estimated; consensus € 34.5m), showing a strong 760bp increase in the margin to 14.7%. Our takeaways ...Societe BIC designs, manufactures and distributes the following consumer products: stationery products, lighters, shavers, and other products. Its stationery products include writing instruments such as ball pens, felt pens, mechanical pencils; marking instruments; coloring and drawing instruments; correction instruments and glues. Co.'s stationery products are sold under the BIC® Kids, Tipp-Ex®, Wite-Out®, Sheaffer® and PIMACO® brands. Its other products segment includes promotional products including notebooks, key rings, magnets, and drinkware; Sport sales (surfboards, windsurf boards, kayaks and sailboats); adhesive labels and adhesive raw materials.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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