Citi has increased its price target for Societe Generale (SCGLY, Financial) from EUR 40 to EUR 50, maintaining a Buy rating on the bank's shares. This decision comes in the wake of heightened market volatility, which has led to significant activity in the capital markets, particularly in equities, during March and April.
The financial institution's analysis suggests that this increased volatility has driven record volumes, presenting opportunities for strategic investments in select European banks as they prepare to report their first-quarter results. Citi's recommendation indicates confidence in Societe Generale's potential amid these fluctuating market conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Societe Generale SA (SCGLY, Financial) is $9.16 with a high estimate of $11.70 and a low estimate of $6.61. The average target implies an downside of 1.98% from the current price of $9.34. More detailed estimate data can be found on the Societe Generale SA (SCGLY) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, Societe Generale SA's (SCGLY, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Societe Generale SA (SCGLY, Financial) in one year is $10.23, suggesting a upside of 9.53% from the current price of $9.34. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Societe Generale SA (SCGLY) Summary page.
