Société Générale Shares Slightly Down at Close Despite Three Upgrades
The French bank's stock ended the session on Friday, January 16, with a slight decline of 0.93% at 70.32 euros, even though three major investment banks raised their price targets during the day. The share of capital traded remained moderate at 0.26%, reflecting a relatively calm session after an exceptional year marked by a nearly 145% increase.
Société Générale opened the session at 70.82 euros and fluctuated between 70.48 and 71.14 euros, eventually closing below the previous day's price at 70.32 euros. This limited downward movement comes after an outstanding annual performance of 144.8% and a rise of 26.57% over the last three months. The stock is now trading above its key moving averages, with the 50-day moving average at 63.05 euros and the 200-day at 53.85 euros, confirming an underlying bullish trend. However, the stock remains close to its resistance level of 70.98 euros, which was the previous day's closing price, partly explaining the observed consolidation. The relative strength index stands at 65, indicating a dynamic market without being in an overbought zone, thus leaving room for growth.
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Morgan Stanley initiated coverage with an overweight rating and a target of 83 euros, representing an 18% upside potential from the current price. Goldman Sachs maintained its buy rating and raised its target from 72.75 to 73.25 euros, while Grupo Santander kept its outperform rating and adjusted its target from 73.21 to 82.77 euros. These revisions are part of a broader revaluation movement, as Jefferies had already increased its target to 96 euros on January 14, the most ambitious in the consensus. The French bank is set to publish its annual results for 2025 on February 6, a highly anticipated event by the market to confirm the institution's recovery trajectory.
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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