Societe Generale: Bank of America is no longer an Underperformer

(AOF) – Bank of America raised its opinion of Underperformance to Neutral and reduced its price target from 31 euros to 28 euros on Societe Generale. The main drivers of this decision are the continuation of the relatively orderly exit from Russia, the progress of ALD’s acquisition of LeasePlan and the merger of French networks and the more favorable environment for rates. However, the analyst still believes SocGen’s business model should deliver structurally weak profitability.

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