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JPMorgan upgrades Societe Generale stock rating and raises target to 46 euros
JPMorgan has upgraded Societe Generale's stock rating from Neutral to Overweight, raising the price target from €29 to €46, citing strong momentum and improved capital visibility. Analysts from Goldman Sachs and Barclays also increased their targets, reflecting confidence in the bank's profitability and growth potential, particularly in Corporate Investment Banking. Societe Generale's shares have shown a 40.53% year-to-date return, with expectations for further gains driven by robust return on tangible equity and significant capital returns.
Intesa Sanpaolo shares rise as UBS and JPMorgan maintain positive ratings
Analyst Delphine Lee has slightly adjusted her valuation model for Intesa Sanpaolo ahead of its quarterly report, with the bank's shares currently trading at EUR 4.15, reflecting a 7.37% increase over the past month. UBS and JPMorgan maintain a 'Buy' rating with target prices of EUR 5, while Jefferies rates it 'Buy' at EUR 4.40, despite a recent quarterly miss. Following a strong annual profit of nearly EUR 8.7 billion, the bank plans a significant share buyback of up to EUR 2 billion.
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