1248 GMT - Societe Generale is still expected to improve its profitability and to return surplus capital to shareholders, but these hopes seem to be priced in its shares after a strong rally in the year to date, UBS's Jason Napier and Nicolas O'Sullivan say in a research note. With a CET1 ratio--a measure of financial strength--above its target of 13%, the French bank is expected to begin paying interim dividends and launch a share buyback, UBS says. However, SocGen is the top performer among big European banks' stocks so far this year and UBS cuts its recommendation to neutral from buy, while raising its target price to 48 euros from 44 euros. Shares rise 0.3% to 46.67 euros and are up 72% in the year to date. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
May 09, 2025 08:48 ET (12:48 GMT)
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