ING Groep (ING) Target Raised to €28 on Earnings and Cost Cuts

Core Viewpoint - ING Groep N.V. is identified as one of the best undervalued European stocks to buy, with Deutsche Bank upgrading its rating to Buy and increasing the target price to €28 from €25 due to strong financial results and cost reductions [1] Financial Performance - ING Groep N.V. reported solid results, including net interest income and fee income beats, alongside effective cost management [1] - The company is trading at 8.7 times EPS, with a total yield of 9% and a valuation of 1.35 times tangible book value, projecting a 16% return on tangible equity by 2027 [2] Market Position - Despite decreased consensus projections, ING Groep N.V. trades at a price premium compared to European banks, with the premium reaching a six-month high of -8% [2] - The company operates in five business segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking [3]