Zacks Investment Research Downgrades Societe Generale SA (SCGLY) to Strong Sell

Zacks Investment Research lowered shares of Societe Generale SA (NASDAQ:SCGLY) from a hold rating to a strong sell rating in a report issued on Wednesday morning.

According to Zacks, “SOCIETE GENL FR Group is the sixth largest bank in the euro zone. Its business mix is structured around three core businesses: Retail Banking, Asset Management and Private Banking, Corporate and Investment Banking. The Group is implementing a sustainable growth policy based on the selective development of its products and services, a client-focused culture of innovation in its different markets, and sustained organic growth coupled with acquisitions. “

Separately, Credit Suisse Group AG assumed coverage on shares of Societe Generale SA in a report on Friday, September 16th. They issued a neutral rating and a $35.00 price objective on the stock.

Societe Generale SA (NASDAQ:SCGLY) opened at 7.295 on Wednesday. The company has a market cap of $29.15 billion and a price-to-earnings ratio of 7.020. Societe Generale SA has a one year low of $5.69 and a one year high of $9.90. The stock has a 50 day moving average of $7.20 and a 200-day moving average of $7.24.

Societe Generale SA Company Profile

Societe Generale SA is a financial services company. The Company is engaged in retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. The Company’s core businesses are managed through three segments: French Retail Banking, International Retail Banking & Financial Services, and Global Banking and Investor Solutions.

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