Goldman Sachs Downgrades ING Groep NV (ING) to Neutral

Goldman Sachs downgraded ING Groep NV (NYSE: ING) from Conviction Buy to Neutral as the firm moves coverage to their European Banks coverage group. They rate shares Neutral given the better valuation opportunities elsewhere in their European Banks coverage. Goldman also sees higher mean upside potential for the banks sector compared to insurance, where the valuations are less distressed.

For an analyst ratings summary and ratings history on ING Groep NV click here. For more ratings news on ING Groep NV click here.

Shares of ING Groep NV closed at $9.74 yesterday, with a 52 week range of $5.80-$13.34.

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