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Research Alert: CFRA Reaffirms Buy Rating On Adss Of Ing Groep

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We adjust our target price to USD34 from USD35, mainly due to EUR weakness vs. USD since our last update in January. This reflects a forward P/E of 12.1x our upgraded 2026 EPS forecast. We think the implied premium over ING's five-year historical average forward P/E of 8.9x is justified by its improved profitability and capital return potential. We raise our 2026 EPS forecast to EUR2.40 from EUR2.30 and 2027 to EUR2.80 from EUR2.70. The bank's strong start to 2026 provides powerful new evidence that reinforces our constructive thesis. The ability to deliver robust commercial growth, an upgraded NII outlook, and disciplined cost control demonstrates clear operational momentum. The immediate launch of a new EUR1.0 billion share buyback underscores a deep commitment to shareholder returns. We believe ING's combination of a proven digital advantage, accelerating income diversification, and a clear, de-risked path toward its >15% 2027 ROTE target makes it a top-tier investment in the European banking sector.

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