Société Générale Shares Drop 2.65% Following KBW Downgrade
Société Générale's stock significantly declined this Friday midday, marking one of the steepest falls in the CAC 40, which itself dropped by 1.11% during the session. The share fell by 2.65% to €61.70, amid a sector-wide retreat where BNP Paribas also shed 1.54%. This challenging session follows a downgrade in the target price by brokerage firm KBW the day before.
Société Générale's target price has been reduced by Keefe, Bruyette & Woods (Stifel group), which lowered its target from €77 to €72. On March 26, the research office revised this target while maintaining its 'market perform' recommendation. At the current price of €61.70, this target implies a potential revaluation of about 16.7%. Despite this theoretical margin, the recent trajectory of the stock remains unfavorable: the share has lost 3.11% over the past seven days and 9.24% over three months, while still maintaining a largely positive annual performance at +40.58%. Investors are now preparing for the release of the first quarter 2026 results, scheduled for April 30. The general meeting is planned for May 27.
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Technically, Société Générale's stock price stands at €61.70, very close to its support threshold at €60.98. A downward breach of this level could pave the way for further decline. The stock is now trading significantly below its 50-day moving average, set at €69.92, indicating a bearish trend established over several weeks. The RSI, an indicator measuring the momentum of the stock over 14 days, is at 42, in a neutral zone but leaning towards weakness, without signaling oversold conditions. This level confirms a lack of buying support in the short term. In a tense market environment — with both the CAC 40 and the SBF 120 dropping more than 1% in session — French banking stocks are experiencing common pressure, as evidenced by the simultaneous decline of BNP Paribas (-1.54%).
En 2025, nous avons franchi une étape déterminante dans la transformation de notre Groupe, avec des revenus et un résultat net records et une distribution exceptionnelle d’actions.
Revenus 2025 à 27 254 millions d'euros, résultat net part du Groupe 6 002 millions d'euros; ROTE 10,2%; coefficient d’exploitation 63,6%; coût du risque 26 pb; distribution 4 679 millions d’euros; CET1 13,5%; dividende par action 1,61 EUR; programme de rachats d'actions de 1 462 millions d'euros; objectif 2026: croissance des revenus >2%, coût du risque 25-30 pb, coefficient d’exploitation <60%.
Outlook / guidance
Expected revenue: Croissance des revenus attendue en 2026 supérieure à 2% par rapport à 2025.
Expected EBITDA: EBITDA attendu en 2026 en progression par rapport à 2025, sans chiffre cible communiqué.
Expected net income: Résultat net attendu en 2026 avec une ROtE supérieure à 10%.
Management commentary: La direction confirme ses objectifs pour 2026 et vise une rentabilité accrue et une meilleure maîtrise des coûts.
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