Societe Generale: BofA raises target price

(CercleFinance.com) - On Monday, Bank of America reiterated its Buy recommendation on Societe Generale shares, with a target price raised from E43 to E50, representing 19% upside potential.


The analyst points out that the stock has recently continued the rebound it began at the start of the year following its Q4 results, outperforming the banking sector by 7% over the past two weeks.

However, in his opinion the stock has not yet exhausted all its upside potential.

According to BofA, over the next two years, the French bank is likely to focus its attention on cost control, with the possibility of keeping its cost base below E17bn by 2026, likely to lead to a 5% upward revision of consensus forecasts.

The broker adds that SG could also pay back between 40% and 50% of its market capitalisation over the next three years, notably through share buybacks of up to $500m.

BofA points out that the stock is one of its '25 stocks for 2025' and is also on its 'Europe 1' list of favourite European stocks.


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