Société BIC SA

Mass-producing pens, lighters and razors may not be glamorous, but it sure is profitable. Despite the decline of smoking and handwriting, the firm will...

Thesis

Mass-producing pens, lighters and razors may not be glamorous, but it sure is profitable. Despite the decline of smoking and handwriting, the firm will survive by broadening its target markets. And even if they don’t, there’s a long runway of cash flow equity investors can extract. I rate the shares a buy as they offer a 56% upside and a 9% intern…