Société Générale: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse maintains its "neutral" rating on Société Générale shares, while increasing its target price for them from 22 euros to 25 euros, i.
e. exactly the share's current price.

The bank's Q1 net profit of 814 million euros easily beat the consensus (285 euros), in particular thanks to an increase in net banking income and a lower-than-expected cost of risk.

In its new 2021 guidance, Société Générale expects the cost of risk to be between 1.6 billion euros and 1.8 billion euros, well below the consensus of 2.8 billion euros, Credit Suisse says.

With this in mind, the analyst has raised EPS estimates by 5% for 2021 and 2022/2023.



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