Goldman Sachs upgraded ING Groep (ING) to Buy from Neutral with a price target of EUR 22.60, up from EUR 19. The firm sees scope for share outperformance, saying ING’s net interest income likely troughed in Q4. Goldman expects lower funding costs to drive higher income and sees ING as a beneficiary of a better growth outlook for Europe, in particular in Germany.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ING:
- ING Groep price target raised to EUR 20.30 from EUR 19 at Citi
- ING Groep Advances €2 Billion Share Buyback Program
- ING Proposes New Supervisory Board Members to Enhance Strategic Growth
- ING Groep price target raised to EUR 21 from EUR 17.50 at Morgan Stanley
- ING Groep acquires 17.6% stake in Van Lanschot Kempen