JPMorgan Chase increases its advice for ING from neutral to overweight. According to analysts from the American investment bank, the ING share is attractively priced and it is unlikely that the Dutch bank will take over the German Commerzbank.
JPMorgan states that the stock is attractive after a fall in the price of more than a fifth in the past year. In addition, an acquisition of Commerzbank would only provide limited synergy benefits, according to experts. The target price goes to 12.50 euros from 13 euros.
The ING share recorded a plus of 1.2 percent on 10 euros on Thursday around 10.10 a.m.