ING: AlphaValue upgrades to 'add'

(CercleFinance.com) - AlphaValue has upgraded its recommendation on ING shares to "add" from "reduce" following the Dutch lender's fourth-quarter earnings release.


In a note to clients, the Parisien research house said it has raised its earnings estimates for 2021 and 2022, due to a decrease in the bank's cost of risk.

AlphaValue has also raised its intrinsic value for the share to 8.77 euros, leapfogging its former 3.73 euros target price, citing future earnings growth resulting from lower loan losses.

In the report, analysts warned that digitalisation and investment monetisation will be "keys" to ING's success.

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