Société Générale: UBS confirms its 'buy' recommendation
(CercleFinance.com) - UBS reaffirms its 'buy' recommendation on Societe Generale and adjusts its price target to 26.
1 euros (from 31 euros), a target which represents a potential 16% increase in the bank's share price.
The analyst stresses the stock's potential for revaluation over several years.
' We have completely rethought our SG model to ensure that it takes into account the new divisions and the expansion of the mobility business' says UBS.
The strategic plan presented last September translates into a number of financial targets, including a robust CET 1 ratio of 13% by 2026. The broker believes that Societe Generale's commitment to a higher CET1 'is welcome'.
'Capital allocation is heading in the right direction', also highlights UBS in the summary of its research note.
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