Societe Generale SA (SCGLY) Boosted to “Purchase” at Zacks Investment Research

Societe Generale SA (SCGLY) Boosted to “Purchase” at Zacks Investment Research

Societe Generale SA (NASDAQ:SCGLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 8.37% from the company’s current price.

According to Zacks, “SOCIETE GENL FR Group is the sixth largest bank in the euro zone. Its business mix is structured around three core businesses: Retail Banking, Asset Management and Private Banking, Corporate and Investment Banking. The Group is implementing a sustainable growth policy based on the selective development of its products and services, a client-focused culture of innovation in its different markets, and sustained organic growth coupled with acquisitions. “

A number of other analysts have also recently weighed in on the stock. UBS Group AG raised shares of Societe Generale SA from a “sell” rating to a “neutral” rating in a report on Monday, February 13th. Societe Generale raised shares of Societe Generale SA from an “equal weight” rating to an “overweight” rating in a report on Tuesday, December 6th. Finally, Morgan Stanley raised shares of Societe Generale SA from an “equal” rating to a “weight” rating in a report on Tuesday, December 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Societe Generale SA has an average rating of “Buy” and a consensus target price of $23.00.

Societe Generale SA (NASDAQ:SCGLY) opened at 10.15 on Wednesday. The firm has a market cap of $40.57 billion and a price-to-earnings ratio of 11.30. The stock has a 50 day moving average of $9.49 and a 200-day moving average of $8.75. Societe Generale SA has a 52-week low of $5.69 and a 52-week high of $10.47.

Societe Generale SA Company Profile

Societe Generale SA is a financial services company. The Company is engaged in retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. The Company’s core businesses are managed through three segments: French Retail Banking, International Retail Banking & Financial Services, and Global Banking and Investor Solutions.

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