ING: Oddo sticks to 'Buy' after results

(CercleFinance.com) - Oddo maintains its 'Buy' recommendation on ING with an unchanged target price of 17.
5 euros, following the Dutch bank's publication of quarterly results above expectations thanks to a low cost of risk.

“ING delivers a solid copy from an operational standpoint but its overall shape (top line, costs, provisions) suggests few upwards revisions of forecasts as long as the management leaves its guidance unchanged”, judges the analyst.

The analyst firm also considers that “the valuation of the share continues to offer a favourable entry point given the quality of the fundamentals of the group (profitability and solvency) and from the point-of-view of total return”.

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