AlphaValue/Baader Europe Updates Price Target, Estimates for Société Générale on New Strategic Plan

01:00 AM EDT, 09/24/2026 (MT Newswires) -- AlphaValue/Baader Europe revised its price target and earnings forecasts for Société Générale (GLE.PA) to account for the French banking group's 2029 strategic roadmap. "Following the [capital markets day], we have updated our projections to reflect both the new inputs provided by the management as well as the slightly downgraded macro prospects having surfaced since our last update in August. We see SG ending 2029 with a 12.9% [return on tangible equity], very close to the newly guided 13-14% ROTE range," according to a Wednesday note. Société Générale forecasts revenue to grow at an average annual rate of 3% between 2026 and 2029. The bank also plans 1.9 billion euros in gross savings through procurement and IT cuts to trim its cost base by 2% to under 16.3 billion euros by 2029. After the investor event, analysts introduced their 2029 estimates and modestly trimmed their full-year 2026 through 2028 EPS projections by 2% to 4% to reflect heightened macroeconomic uncertainty, alongside lower revenue and slightly higher cost assumptions. The 2026 to 2028 earnings cut is partially cushioned by a reduced share count, reflecting higher-than-previously-projected share buybacks in 2027 and 2028. Against this backdrop, the research firm lowered the reduce-rated stock's price target to 78.4 euros from 80.9 euros.