Société Générale is up 3%, placing it among the top performers on the CAC 40, buoyed by favorable comments from Goldman Sachs, which has reiterated its buy recommendation and raised its 12-month price target by approximately 15% to 84 EUR.

The broker has increased its EPS estimates by an average of 4% for 2026-2028, mainly due to revenue assumptions being raised by 1 to 2% over the period, against a backdrop of better-than-expected trends in the fourth quarter and upgraded management targets.

Additionally, Goldman Sachs has now incorporated its 2027 estimates at 100% in its valuation (up from 75% previously), using a higher target P/E multiple of 9 times, compared to the previous 8.5 times.

"The higher target multiple reflects our constructive view of the operational plan, which we see as prudent and achievable, supported by efficiency gains for the group," the intermediary stated, thus raising its price target accordingly.