Societe Generale SA Upgraded by Bank of America Corp. to “Buy” (SCGLY)
Societe Generale SA (NASDAQ:SCGLY) was upgraded by equities researchers at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research report issued on Thursday, AmericanBankingNews.com reports.
Societe Generale SA (NASDAQ:SCGLY) traded up 0.80% on Thursday, hitting $11.38. The stock had a trading volume of 39,159 shares. Societe Generale SA has a 52 week low of $5.58 and a 52 week high of $9.91. The stock has a 50-day moving average of $9.09 and a 200-day moving average of $7.8. The company has a market cap of $43.512 billion and a P/E ratio of 53.61.
A number of other firms have also recently commented on SCGLY. Analysts at Macquarie upgraded shares of Societe Generale SA from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, October 11th. Separately, analysts at Jefferies Group initiated coverage on shares of Societe Generale SA in a research note to investors on Tuesday, September 3rd. They set a “hold” rating on the stock. Finally, analysts at Deutsche Bank upgraded shares of Societe Generale SA from a “hold” rating to a “buy” rating in a research note to investors on Friday, August 2nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy”.
Societe Generale SA is a France-based banking group. The Company is structured in five segments: Retail Banking in France, which operates two complementary distribution networks in France, Societe Generale and Credit du Nord; International Retail Baking, which is present in 41 locations in Central and Eastern Europe, Mediterranean Basin, Africa and the French Overseas Departments and Territories; Specialized Financing and Insurance, which includes financing of the sales and capital goods of professionals, consumer credits and insurance, among others; Private Banking, Asset Management and Investor Services, which comprises such business lines as private banking with Societe Generale Private Banking and asset management with Amundi and Societe Generale Asset Management, and Corporate and Investment Banking, which is organized around two areas: Global Markets and Financing and Consulting.
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