Societe Generale upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs upgraded Societe Generale (SCGLY) to Neutral from Sell with a price target of EUR 29.25, up from EUR 26.60 as part of a broader research note previewing 2025 for European banks. 2025 may prove to be a “proof of concept” year for European Banks – one in which they withstand the reset in rates, with performance normalizing at a level which supports continued capital distribution and earnings growth, the analyst tells investors in a research note, adding the firm remains “selectively constructive” overall given volume tailwinds, revenue diversification, improved operating efficiency, and capital resilience. For Societe Generale, the firm cites a lower profitability profile compared to its European Banks coverage, along with its expectations for a complex but improving operating outlook that is “broadly fairly reflected” in the current share price.