Societe Generale: price target raised at Barclays

(CercleFinance.com) - Barclays reaffirms its 'overweight' recommendation on Societe Generale, with a price target raised from €41 to €48, a new target with over 30% upside potential, in a note on the French banks.


The broker expects Societe Generale's earnings to grow by 15 to 24% a year over the period 2025-27, and its capital to remain above the CET1 target (after Basel IV implementation) of 13%.

Barclays also sees 'upside risk to capital distribution plans, if the FRTB (fundamental review of the trading book) is postponed and/or diluted later this year'.

'French risk is now more limited and we see significant upside potential for Societe Generale shares, which are still trading among the cheapest European banks', adds the broker.

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