Société Générale's Stock Rises Over 2% and Challenges Its Resistance at €71.90
Société Générale's stock stands out markedly at mid-session, as the Parisian market trends upwards. The bank benefits from a raised target price by an American broker, who praises the institution's momentum following a spectacular year-long rally.
Citi Raises Target to €90, Leading the Bank to Top the CAC 40
Société Générale's stock is up 2.54% at €71.57 midday, leading the CAC 40, which is up by 0.9%. The stock benefits from a boost by Citi, which has raised its target price from €84 to €90 while maintaining its buy recommendation.
The new target offers a potential of about 26% relative to the current price.
This increase comes as the bank has already shown a performance increase of more than 45% over the past year. Over three months, the gain exceeds 7.5%, indicating a momentum that continues despite some technical pauses.
According to the consensus of surveyed analysts, the stock is priced at about 9.3 times the earnings expected for the current fiscal year.
The stock is also supported by a favorable macroeconomic environment for the French banking sector, with a 3-month Euribor at 2.23% in May (+0.24 point over a year) and a 2.6% increase in corporate loan balances over twelve months.
The Stock Remains Below the €71.90 Resistance but Moves Above All Its Moving Averages
Free · Every morning
Technical market signals, before the opening bell.
Bullish and bearish momentum, analyst changes, stocks to watch — automatically computed from Euronext data.
✓ Before 9 AM every morning✓ Euronext data✓ AI-powered analysis
You're in — subscription confirmed!
Your first edition is on its way. Check your spam folder and add us to your contacts.
An error occurred.
Indicative data. No investment advice. Unsubscribe at any time.
Gratuit · chaque matin
Ne ratez plus rien sur vos actions
La tendance derrière les cours. L'essentiel des valeurs Euronext en quelques minutes.
📈les valeurs en mouvement, sur la durée
🎯les objectifs d'analystes qui évoluent
📰les actualités qui font bouger les cours
tendance · 6 séances
✓ C'est fait, vous êtes inscrit !
Votre première édition arrive bientôt. Pensez à vérifier vos spams.
Une erreur est survenue.
CAC 40 · SBF 120 · données indicatives · aucun conseil en investissement · désinscription à tout moment.
From a technical standpoint, the session marks a new attempt to break through a technical barrier that has been monitored for several sessions. The price has so far struggled at the €71.90 resistance, which was already tested at the beginning of June without success.
The stock has clearly moved above its MM20 (€69.26) and MM50 (€68.97), with a gap of more than 11% relative to the MM200 (€64.19), confirming the underlying bullish orientation.
The RSI at 52 remains neutral, which leaves room before reaching an overbought zone. The MACD has moved into positive territory, with a histogram at 0.16.
The recent announcement of the early repayment of a convertible bond on July 6 complements a busy bond schedule for the institution.
The next reference point for traders: whether or not the €71.90 level holds at the close, which would technically validate a breakout from the consolidation zone of the last few weeks.
Résultat net part du Groupe record au S1-26 de 3,5 Md EUR, en hausse de +13,9% vs. S1-25, ROTE de 12,0% au S1-26
Risks mentioned
Revenus de la Banque de Grande Clientèle en baisse de -1,3 % au S1-26 vs. S1-25
Activités Taux, Crédit et Change en retrait de -15,0 % sur le semestre
Coût du risque en hausse de +6,6 % à 745 millions d'euros au S1-26
Opportunities identified
Cible de ROTE 2026 rehaussée à environ 11 % grâce à l'effet de ciseaux positif
Acompte sur dividende en hausse de +23 % et rachat d'actions exceptionnel de 1,5 Md€
Notation relevée par Fitch à « A+ » et perspective S&P passée à « positive »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
