Societe Generale: BofA joins Europe 1 list

(CercleFinance.com) - Bank of America confirms its 'buy' recommendation Societe Generale shares, with its E36 target price, one of its '25 stocks for 2025', adding it to its 'Europe 1' preferred stock list.


After an inflexion in profitability in the French retail bank and changes in management, the broker considers the share ready for the next stage in its history, which will probably entail a significant revaluation.

We believe that SocGen should become one of the most attractive European stocks in terms of return on capital by 2025, with 40%-55% of market capitalisation over the next three years, BofA adds.

In addition, it sees a faster improvement in profitability and potential for higher payouts thanks to cost and capital efficiency measures, and all this at 2026 P/E multiples of 4x, P/TBV of 0.4x and a ROTE of 10%.


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