(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on ING with a price target raised by 4% to 17.5 euros, before the publication by the Dutch bank, on August 3, of its results for the second quarter.
“We expect the second quarter publications to be a positive catalyst for ING and KBC,” he said, recalling that these two shares recommended for purchase are on his list of favorite stocks among European banks.
The broker expects ING stock to receive support from ‘accelerating and positively surprising’ net interest income momentum, as well as an acceleration in share buybacks through the end of the year.
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