Societe Generale's Punchy Targets Mean Stock is Undervalued -- Market Talk

1053 GMT - Societe Generale's guidance supports further earnings upgrades, BofA Securities analysts say. The French bank issued "punchy" targets, the analysts write, focused on selective growth and cost reduction. The revenue guidance of 3% per year and cost cuts leave room for future upgrades, BofA says. "We believe the guidance supports additional earnings upgrades and could translate into mid-single digit upside to consensus EPS," the analysts say. The targets suggest 5% consensus EPS upgrades for 2029, BofA says, while the stock is "heavily discounted". Shares are up 2.9%. (michael.hennessey@wsj.com)

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September 21, 2026 06:53 ET (10:53 GMT)