Société Générale: Barclays upgrades to 'Overweight'

(CercleFinance.com) - Barclays has upgraded its rating on the share of Société Générale from "Equal Weight" to "Overweight" while raising its corresponding target price from 27 euros to 35 euros, expecting 2020 to be a "big year" for the French bank.


In particular, the broker believes that Société Générale could change its mix of pay-outs to shareholders in favour of share buybacks, and that it will reveal new cost saving measures, which could add up to 7% to its profit before tax.

"We believe that the margin for capital optimization is underestimated by the market," Barclays adds, for which this upcoming optimization could result in the consensus raising its estimates for profit before tax by 4% to 9%.


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