Kepler Capital Thinks ING Group’s Stock is Going to Recover

Kepler Capital analyst Christoffer Adams maintained a Buy rating on ING Group (INGResearch Report) yesterday and set a price target of EUR8.10. The company’s shares closed last Monday at $5.81, close to its 52-week low of $4.52.

According to TipRanks.com, Adams is ranked 0 out of 5 stars with an average return of -14.0% and a 31.5% success rate. Adams covers the Financial sector, focusing on stocks such as SpareBank 1 Nord-Norge, Helgeland Sparebank, and Deutsche Bank AG.

ING Group has an analyst consensus of Moderate Buy, with a price target consensus of $7.88.

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Based on ING Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.31 billion and net profit of $670 million. In comparison, last year the company earned revenue of $4.31 billion and had a net profit of $1.12 billion.

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ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other and Wholesale Banking. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending. The Retail Belgium segment provides banking, life and non-life insurance, and asset management products and services. The Retail Germany segment involves retail and private banking, which offers current and savings accounts, mortgages, and customer lending. The Retail Other segment comprises of retail banking activities. The Wholesale Banking segment includes cash management to corporate finance, real estate, and lease. The company was founded on March 4, 1991 and is headquartered in Amsterdam, Netherlands.