ING: UBS reduces target price

(CercleFinance.com) - UBS has lowered its estimates for the Dutch banking group due to extraordinary items and increased macroeconomic risks.


Even so, the broker maintains its buy rating on the share, although has reduced its target price for it to 14.5 euros (from 16 euros).

The broker says that it is reducing its pre-earnings guidance due to extraordinary items, lower long-term credit rates and increased macroeconomic risks. However, as the stock's valuation remains attractive, it maintains its buy rating on the stock.



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