Jefferies Likes Deutsche Bank over Societe Generale

Don’t ask Jefferies why they don’t have a buy rating on Societe Generale SA (EPA:GLE) (OTCMKTS:SCGLY). They think the real value in the Eurozone is not found in SocGen but rather Deutsche Bank AG (NYSE:DB) (ETR:DBK), a point they outlined in a recent research report. Deutsche and Societe Generale both have tail risks While both Deutsche Bank AG (NYSE:DB) (ETR:DBK) and Societe Generale SA (EPA:GLE) (OTCMKTS:SCGLY) have tail risk, Societe Generale has greater exposure to the I-Banking industry post crisis. SocGen faces tail risk from its Russian exposure, Jefferies analysts Omar Fall, Joesph Dickerson, Anish Lakhani and William Davison note.  Deutsche…