Is Societe Generale (EPA:GLE) a Stock One Should Buy Following Today’s Credit Suisse Group Upgrade?


Societe Generale (EPA:GLE) Stock Upgrade

Credit Suisse Group upgraded shares of Societe Generale (EPA:GLE) to a solid “Outperform” rating in analysts report issued to clients on 28 November. Analysts currently have a EUR 58.10 target set on the stock. This target implies a possible upside of 29.80% from the last stock close of the stock.

From a total of 11 analysts covering Societe Generale (EPA:GLE) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is €59.30 while the lowest target price is €42. The mean of all analyst targets is €51.67 with a 15.31% above today’s (€44.81) stock price. Societe Generale was the topic of 20 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Bank of America upgraded shares on November 28 to “Buy” rating. Deutsche Bank upgraded shares to “Buy” rating and €55 target share price in a report from a November 14. JP Morgan maintained GLE stock in a recent report from November 25 with “Neutral” rating. Independent Research upgraded the rating on November 11. Independent Research has a “Buy” rating and a €56 price target on shares. Finally, BNP Paribas maintained the stock with “Neutral” rating in a report issued on a November 14.

The stock increased 0.63% or EUR 0.28 on November 27, striking EUR 44.81. Approximately 1.73M shares of stock traded hands. Societe Generale SA (EPA:GLE) has declined 71.01% since April 24, 2015 and is downtrending. It has underperformed by 70.12% the S&P500.

 Is Societe Generale (EPA:GLE) a Stock One Should Buy Following Today’s Credit Suisse Group Upgrade?

Societe Generale SA is engaged in retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. The company has a market cap of 36.13 billion EUR. The Company’s core businesses are managed through three divisions: French Retail Banking, International Retail Banking & Financial Services and Global Banking and Investor Solutions. It has 10.29 P/E ratio. The Company’s financial services offering includes: insurance, vehicle leasing and fleet management, and equipment and vendor finance.