ING: UBS raises target price

(CercleFinance.com) - UBS has reiterated its "buy" recommendation on ING Group shares, having increased its target price for them from 14 euros to 15.
3 euros, with the latter representing upside potential of 15% for the Dutch bank's share price after its quarterly results were announced last week.

The broker explains that it is significantly raising its forecasts due to higher core revenues, a lower cost of risk and larger buybacks. "Despite a strong run, we think ING shares have more to give," it says.



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