Deutsche Bank has upgraded ING Groep N.V. (NYSE: ING) to Buy from Hold, increasing its target price to €28 due to strong earnings and cost-cutting measures. The bank anticipates above-average volume growth, a robust replicating portfolio, and rising fee income for ING. Despite currently trading at a price premium to other European banks, ING is considered an undervalued stock with a total yield of 9% and a 16% return on tangible equity based on 2027 projections.
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ING Groep (ING) Target Raised to 28 on Earnings and Cost Cuts
Deutsche Bank has upgraded ING Groep N.V. (NYSE: ING) to Buy from Hold, increasing its target price to €28 due to strong earnings and cost-cutting measures. The bank anticipates above-average volume growth, a robust replicating portfolio, and rising fee income for ING. Despite currently trading at a price premium to other European banks, ING is considered an undervalued stock with a total yield of 9% and a 16% return on tangible equity based on 2027 projections.