In a new report, Societe Generale analyst Geoff Dawes explains why the latest earnings numbers from European banks indicate that it may finally be time for buyers to return to the space. Societe Generale believes they are finally seeing signs of the long-awaited turnaround for European banks.

Upgrade Cycle

The most recent bank earnings have come in mostly ahead of Wall Street forecasts, and Dawes believes that upgrades in the space will continue into 2016. He sees credit growth and solid margins for banks as the European economy continues to solidify. Societe Generale has been cautious on the European banks for most of this year, but earnings strength has convinced the firm that now is the time to be overweight most banks stocks.

Expanding Opportunities

Societe Generale believes…

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