Oddo BHF has raised its opinion on Bic from 'neutral' to 'outperform', with the target price maintained at 73 euros, 'given the undeniable value character of the stock (EV/ROC of six times, FCF yield of around 9%)'.

The research department welcomes the update of the strategic plan, which it sees as "a good step towards reiterating the company's growth-oriented strategy", and points to good financial discipline geared towards FCF generation.

"The balance between reinvestment in growth and cash return to shareholders has been maintained. This plan reflects a certain degree of continuity with the initial plan, with a degree of confidence that remains unchanged", he continues.

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