ING: UBS raises target price

(CercleFinance.com) - UBS believes that business in Germany is an underestimated component of ING's growth.
The analyst confirms his buy recommendation on the share, raising his target price to E21 (from E20.6). This new target represents 45% upside potential for the stock.

ING is preparing to accelerate its growth strategy in Germany by expanding its offer to SMEs. ING has significant potential, and we estimate that Germany will contribute a third of growth by 2027, UBS says.

The group posted net income of E1,880m, compared with E1,982m in Q3 2024 and E1,780m in the previous quarter.


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