ING: shares up after positive broker comments
(CercleFinance.com) - ING shares are up over 1% on Monday following positive broker comments on the stock.
UBS has raised its target price from 14.8 euros to 15 euros, maintaining its "buy" rating on the share.
In a report, the broker said that the stock's current price implies an "unlikely" 10% consensus EPS downgrade.
"The current valuation implies significant consensus downgrades which we think are unlikely," UBS wrote, adding that ING remains one of its "best picks" in the sector.
On Euronext Amsterdam, ING shares rose by 1.3% to 10.9 euros in morning trading, from 10.7 euros a close last Friday.
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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.
UBS has raised its target price from 14.8 euros to 15 euros, maintaining its "buy" rating on the share.
In a report, the broker said that the stock's current price implies an "unlikely" 10% consensus EPS downgrade.
"The current valuation implies significant consensus downgrades which we think are unlikely," UBS wrote, adding that ING remains one of its "best picks" in the sector.
On Euronext Amsterdam, ING shares rose by 1.3% to 10.9 euros in morning trading, from 10.7 euros a close last Friday.
Copyright (c) 2019 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.