Société Générale: Jefferies positive ahead of quarterly results
(CercleFinance.com) - Jefferies confirms its 'buy' recommendation on Societe Generale shares, while adjusting its target price from E45.
9 to E45.5, implying almost 100% upside potential in the banking group's share.
In its summary, the broker updates its expectations for Q2, saying it remains 4% above consensus for net income for the period, thanks to higher revenue expectations.
"Patience is needed with shares on 0.29x TBV, but we see Q2
surprise in CIB (markets) and French retail/insurance with possibly a better guide at the former", it adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
9 to E45.5, implying almost 100% upside potential in the banking group's share.
In its summary, the broker updates its expectations for Q2, saying it remains 4% above consensus for net income for the period, thanks to higher revenue expectations.
"Patience is needed with shares on 0.29x TBV, but we see Q2
surprise in CIB (markets) and French retail/insurance with possibly a better guide at the former", it adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.