(News Bulletin 247) – Credit Suisse reaffirms its ‘outperformance’ opinion on ING with a price target raised to 16 euros, in the wake of an increase in its EPS expectations for 2023 and 2024, as well as share buybacks for the years 2023 to 2025.
The broker recalls that the Dutch bank unveiled a better-than-expected net profit for the first quarter, thanks to exceeding expectations for both its revenues, its costs and its provisions.
Pointing to continued positive trends, Credit Suisse believes net interest income is on track to be above 16.8 billion euros in 2023 and well above 17 billion in 2024, above-consensus thresholds .
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