Professional
Added to YB: 2024-06-27
Pitch date: 2024-06-24
ING [bullish]
ING Groep N.V.
+73.96%
current return
Author Info
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Company Info
ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.
Market Cap
N/A
Pitch Price
EUR 15.66
Price Target
21.50 (-21%)
Dividend
N/A
EV/EBITDA
N/A
P/E
N/A
EV/Sales
N/A
Sector
Banks
Category
value
Show full summary:
ING Groep N.V.: We Increase our FVE by 18% on Greater Confidence That Net Interest Margins Will Remain Stable
ING: Upgraded FVE to €20 on stable NIM outlook. 4% loan growth, 5-10% fee growth targets. Strong Dutch market share (40% current accounts) drives cost advantage. Narrow moat from deposits & switching costs. €18B shareholder returns over 3yrs. Risks: interest rates, Dutch property, oil exposure. Standard capital allocation rating.
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