Société Générale stock declines nearly 1% and remains below its moving averages
The French bank loses ground mid-morning in an almost stable CAC 40, as two major brokerage houses have just raised their price targets following the strategic plan presented Monday. The stock remains below its two first moving averages despite a rebound that began the previous day.
RBC Capital and Citi raise targets following the 2029 strategic plan
Two simultaneous revisions came out Tuesday on Société Générale. RBC Capital raises its target from €84 to €88, while maintaining a "sector performance" rating. Citi goes further: the target climbs from €96 to €100, with a buy opinion. These two repositionings follow the presentation on Monday of the strategic plan through 2029, centered on cost control and selective growth.
Citi's €100 target implies a potential of nearly 37% compared to the current price, according to the consensus of surveyed analysts. This renewed broker interest occurs in a context of solid results: in the first half of 2026, the bank posted a record net income attributable to the group of €3.5 billion, up nearly 14% year-over-year, with a 2026 ROTE target raised to approximately 11%. The bank is trading at approximately 9.2 times the expected earnings of the current fiscal year, according to the consensus of surveyed analysts.
A fragile technical configuration below the MA20, despite underlying support
Despite these positive analyst signals, the price declines 0.88% during the session to €73.22, ranking among the largest CAC 40 declines. The stock remains below its MA20 at €73.67 (spread of -0.61%) and well below its MA50 at €77.06 (spread of -4.98%). The only technical anchor point from below: the MA200 at €71.85, above which the price holds with a margin of nearly 2%, as does the support identified at €71.03. The RSI at 46 remains in neutral territory, showing neither selling exhaustion signals nor particular tension.
The €1.5 billion share buyback program, executed at approximately 78% as of September 21, constitutes a structural support factor for the stock. On the organizational side, the appointment of Benoît Grisoni to lead the retail and business customer segment within the retail banking division, while retaining the general management of BoursoBank, will take effect on October 1, 2026. The support at €71.03 remains the technical reference to monitor in case of continued decline.
