Aided by solid CIB revenues and a resilient international retail performance, Societe Generale SA (ADR) (OTCMKTS:SCGLY) (EPS:GLE) posted solid results in 2Q14, notes Jefferies.
Omar Fall of Jefferies in the research note dated August 1, 2014 assigned ‘Hold’ rating on SocGen and pegged target price at €44.60.
SocGen - Solid show by Societe Generale
The Jefferies analyst points out Societe Generale SA (ADR) (OTCMKTS:SCGLY) (EPS:GLE)’s headline net income of €1,030m compares to consensus of €863m. By excluding exceptionals such as litigation and Newedge acquisition gain, the beat was 14% at the pre-tax profit level.
France’s second-largest bank by market value also posted...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
