Societe Generale SA (SCGLY) Upgraded to “Strong-Buy” at Zacks Investment Research
Societe Generale SA (NASDAQ:SCGLY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, July 12th. The firm currently has a $13.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.97% from the stock’s previous close.
According to Zacks, “SOCIETE GENL FR Group is the sixth largest bank in the euro zone. Its business mix is structured around three core businesses: Retail Banking, Asset Management and Private Banking, Corporate and Investment Banking. The Group is implementing a sustainable growth policy based on the selective development of its products and services, a client-focused culture of innovation in its different markets, and sustained organic growth coupled with acquisitions. “
Separately, Barclays PLC cut Societe Generale SA from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.00.
Shares of Societe Generale SA (NASDAQ SCGLY) opened at 12.04 on Wednesday. The company has a market cap of $48.21 billion and a PE ratio of 14.86. Societe Generale SA has a 52 week low of $6.53 and a 52 week high of $12.02. The stock’s 50 day moving average price is $11.13 and its 200-day moving average price is $10.39.
About Societe Generale SA
Societe Generale SA is a France- based financial services company. It is engaged in retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Its core businesses are managed through three segments: French Retail Banking, International Retail Banking & Financial Services, and Global Banking and Investor Solutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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