0947 GMT - The stocks of French lenders provide attractive opportunities, Jefferies says in a research note. "In a sector where investors are becoming increasingly nervous about a lack of obvious positive earnings revisions on offer, the three listed French banks still offer scope for earnings revisions against undemanding valuations," analyst Joseph Dickerson and associate Theo Massing write. Their top pick is Societe Generale, as it could be bought for cheap and has improved fundamentals, capital strength and had a management reshuffle. BNP Paribas is second due to its diversification and position to benefit from future European structural integration, they add. Credit Agricole is well-placed in a rate cut environment but lacks catalysts, they note. Societe Generale has gained 73% since the start of the year, while BNP is up 34% and Credit Agricole 28%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

May 13, 2025 05:48 ET (09:48 GMT)

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