Societe Generale: Barclays raises target price

(CercleFinance.com) - Barclays confirms its 'overweight' rating on Societe Generale shares, with a target price raised from E41 to E48, now representing over 30% upside potential, in a report on French banks.


The broker expects Societe Generale's earnings to grow by 15% to 24% p.a. over 2025-27, with its capital remaining 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 amongst the cheapest European banks, the broker adds.


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