ING: UBS still a buyer, trims TP
(CercleFinance.com) - UBS reiterates its "buy" rating on ING shares, shaving a fraction off its target price from E17.
8 to E17.6, with the latter TP still leaving 49% upside potential for the Dutch banking institution's stock, which it "feels is too cheap".
"ING remains one of the best capital return stories among European banks and we see modest changes to forecasts post Q3", the broker says the day after the group's quarterly results.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.