ING: Credit Suisse still a buyer - raises target price
(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on the ING share, having increased its corresponding target price from 9 euros to 10 euros, after the Dutch bank published Q4 net profit of 727 million euros on Friday.
It beat the consensus (464 million euros), thanks to a significantly lower cost of risk. "Key revenue and cost lines were slightly better than expected," notes the broker.
While ING plans to pay the final 2019 and 2020 dividends, as well as the 2021 interim dividend in the final quarter of 2021, Credit Suisse estimates "A c12% potential yield (dividend and buyback) in 2021 which should continue to support the shares".
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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.
It beat the consensus (464 million euros), thanks to a significantly lower cost of risk. "Key revenue and cost lines were slightly better than expected," notes the broker.
While ING plans to pay the final 2019 and 2020 dividends, as well as the 2021 interim dividend in the final quarter of 2021, Credit Suisse estimates "A c12% potential yield (dividend and buyback) in 2021 which should continue to support the shares".
Copyright (c) 2021 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.