UBS reaffirms its 'buy' recommendation on Societe Generale, as well as its price target of 27.6 euros, a target implying a 10% upside potential, welcoming the announcement of the sale of its professional equipment financing business (SGEF).

The broker considers the disposal of this business (1.7% of 2023 sales) to be positive, with an accretive effect of 25 basis points on CET1 expected in the first quarter of 2025, and sees it as "one of the many steps necessary for a revaluation".

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