1115 GMT - Societe Generale has shown a proactive approach in addressing market concerns, Citi says in a research note. Managerial changes and a quarterly beat should assuage worries over the turnaround in French retail, the company's capital and communication issues, analyst Azzurra Guelfi writes. The French bank's third-quarter results showed a turning point in profitability in its domestic market after a disappointing previous set of results. "This should increase market confidence in the company's ability to deliver on 2026 targets," analyst Azzurra Guelfi writes, adding that shares look attractive. Citi raises its rating to buy from neutral. Shares edge down 0.2% at 27.2 euros, but have gained 13% year to date. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
November 04, 2024 06:16 ET (11:16 GMT)
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