Societe Generale Drops 2.47% to 68.58 Euros at Monday's Opening
Societe Generale falls 2.47% to 68.58 euros at the opening on January 19, following a series of target upgrades including one by Grupo Santander which raised its target to 82.80 euros. The stock maintains a strong upward momentum with well-oriented moving averages and annual results expected on February 6.
Opening Performance and Technical Analysis
Societe Generale's stock opened this Monday, January 19, with a decrease of 2.47% at 68.58 euros, after closing at 70.32 euros on Friday. This decline follows a week marked by a series of analyst target upgrades, including Grupo Santander this very morning, which maintained its outperform rating and raised its target from 73.20 to 82.80 euros. The share of capital traded remains limited to 0.04%, indicating a measured profit-taking after an exceptional annual increase of 138.6%. Technically, the stock continues to trade well above its key moving averages. The 50-day moving average is at 63.37 euros and the 200-day at 54.02 euros, confirming the solidity of the underlying bullish trend. The RSI is at 62, a level that indicates still positive momentum without excessive tension. The price remains close to its resistance at 70.98 euros, breached last week, and slightly moves away from the upper Bollinger band at 71.42 euros, suggesting a phase of technical consolidation.
Analytical Support and Upcoming Results
The stock benefits from significant analytical support: besides Santander this Monday, Morgan Stanley initiated coverage on January 16 with a target of 83 euros, Goldman Sachs raised its target to 73.25 euros, and Jefferies set its target at 96 euros on January 14, the highest estimate in the market. This sequence of bullish revisions reflects the growing interest of analysts in the stock, as the bank will publish its annual results for 2025 on February 6. Additionally, the one billion euro share buyback program, launched in November 2025, continues to provide structural support to the price. As of January 9, the group had repurchased 1.7% of its capital, thus achieving 80.9% of the announced target. The stock has shown a progression of 27.85% over three months and remains one of the most performing values of the CAC 40 over the past year.
