Nomura Securities Maintains a 'Buy' on ING Groep NV (ING); SOTP Valuation Points to Significant Value

Nomura Securities maintains a 'Buy' on ING Groep NV (NYSE: ING) price target EUR8.90.

Analyst, Earik El Majjad, said, "ING’s share price has fallen 15% in the past month and underperformed the SX7P by 7%. The stock has given up all the gains achieved in the first three months of the year and is down 7% YTD. Based on an insurance business disposal at a P/TNAV of 0.7x (EUR 14.4bn), we estimate the bank now trades at just 0.5x TBV for a ~9-10% ROTE, a significant ~20% discount to its EU17 peers for similar returns."

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 $7.10 yesterday.

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