ING: Jefferies maintains 'buy' rating

(CercleFinance.com) - Jefferies maintains its "buy" rating on ING with a new target price of 19.
2 euros, representing upside potential of 51%, as the Dutch financial group remains "the best way to play the digital revolution" according to the broker.

In a research note, its team of analysts point out that ING's equity story is about "being the European leader in digital offerings," as the group was the first mover on this front.

For Jefferies, its recent agreement with French insurance giant AXA demonstrates their digital leadership, as AXA already has an online bank but wants to benefit from ING's experience in "tailoring financial products for an easy and seamless banking experience, and help them to reach the young and tech savvy customers."

Copyright (c) 2018 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.