Société Générale Kept at Buy as BofA Notes New Strategic Plan

09:17 AM EDT, 09/21/2026 (MT Newswires) -- BofA Global Research reiterated its buy rating on Société Générale (GLE.PA), with a price objective of 95 euros, noting the "self-help character" of the French banking group's new strategic plan. "SocGen's 2029/30 strategic plan retains the self-help character we expected, combining selective growth, absolute cost reduction, business transformation and tight risk discipline. The expected profitability growth is linear, with 13-14% ROTE in 2029 representing a waypoint rather than the destination given management's [greater than] 15% ambition beyond 2030. Revenue guidance of c.3% CAGR and costs below EUR16.3bn leave room for future upgrades," the research firm said Monday. "We believe the guidance supports additional earnings upgrades and could translate into mid-single digit upside to consensus EPS." Analysts also highlighted the bank's "attractive" policy on capital returns, with SocGen potentially returning a total of more than 21 billion euros in total distributions by 2029, an average total payout of 80%, ahead of BofA's expectation of 20 billion euros.