Societe Generale seen continuing gains as Europe's best-performing bank stock

The article mentions Rothschild & Co Redburn initiated coverage of Societe Generale and said its investment-banking focus could benefit from the EU's Savings and Investments Union; the article reports SocGen has risen 159% over the past 12 months.

The article reports Societe Generale has been the best-performing bank stock in Europe over the past year. Rothschild & Co Redburn initiated coverage and the analyst James Invine highlighted the bank's investment banking focus. The analyst said that focus could position SocGen to benefit from the European Union's Savings and Investments Union. The piece also reports the bank's share price rose 159% in the past 12 months. Key points: - The article mentions Rothschild & Co Redburn initiated coverage of Societe Generale and assigned a favorable rating. - The article mentions analyst James Invine said SocGen's investment banking focus could benefit from the EU's Savings and Investments Union. - The article reports Societe Generale has risen 159% over the past 12 months, outpacing the Stoxx 600 Banks Index's 67% gain. - The article notes Invine set a price target of €85, which the piece says implies about 22% further upside from current levels. Summary: The article frames Societe Generale's recent rally and an analyst's initiation of coverage as linked to potential benefits from the EU's Savings and Investments Union. Undetermined at this time.