ING Groep (ING) Target Raised to €28 on Earnings and Cost Cuts

ING Groep N.V. (NYSE:ING) ranks among the best undervalued European stocks to bargain now. On February 3, Deutsche Bank upgraded ING Groep N.V. (NYSE:ING) to Buy from Hold and boosted its people terms to €28 from €25, citing coagulated results, including nett involvement income and interest beats, arsenic good arsenic outgo reduction. According to expert Benjamin Goy, ING capitalizes connected above-average maturation successful volume, an extended replicating portfolio, and interest income rise, which is backed by stock increases.

The expert stated that Deutsche Bank boosted its projections importantly pursuing the results. ING Groep N.V. (NYSE:ING) is trading astatine 8.7 times EPS, boasts a full output of 9%, and is valued astatine 1.35 times tangible publication value, according to 2027 projections, delivering a 16% instrumentality connected tangible equity.

Even with decreased statement projections, ING Groep N.V. (NYSE:ING) trades astatine a terms premium to European banks, a quality that Deutsche Bank precocious said had accrued to a six-month precocious of -8%.

ING Groep N.V. (NYSE:ING) is simply a Dutch multinational banking and fiscal services institution that operates successful 5 concern segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.