ING: Berenberg maintains bullish view on the share
(CercleFinance.com) - Berenberg said it remains bullish on shares of ING and views the Dutch financial group's investment case as "compelling.
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"The scope for efficiency gains remains largely misunderstood, with the market unwilling to accept that higher investment costs will prove transitory," the German broker wrote in a research note.
"With a greater focus on costs than most EU peers, combined with structural advantages, delivery in 2019 should drive outperformance,' it said.
Berenberg has a "buy" recommendation and 16.5 euros price target on the ING stock.
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.
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"The scope for efficiency gains remains largely misunderstood, with the market unwilling to accept that higher investment costs will prove transitory," the German broker wrote in a research note.
"With a greater focus on costs than most EU peers, combined with structural advantages, delivery in 2019 should drive outperformance,' it said.
Berenberg has a "buy" recommendation and 16.5 euros price target on the ING stock.
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.