UBS leaves its opinion on the stock unchanged at Buy and confirms its price target of E70.

The analyst believes that "earnings are above 1.5% thanks to stronger margins".

' In the third quarter, Bic's LFL failure was more than offset by a better-than-expected improvement in operating margin, leading to a profit above 1.5% and earnings growth of 30% year-on-year ' says UBS.

The group expects sales growth in fiscal 2023 of between 5% and 7% at constant exchange rates, thanks to the combined effect of price increases and mix improvements. It is also targeting an improvement in adjusted operating income and adjusted operating margin for fiscal 2023, as well as gross margin.

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