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Friday, November 27, 2020

Investor Confidence is Rising for ING Groep N.V. (NYSE:ING)

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ING Groep N.V. (ING) shares are trading at higher $8.03 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $10.30.

To add more color to this target, the company’s high over the last year is $12.44 and the low is $4.52. Over the last 52 weeks, ING is down -13.47% while the S&P 500 is up 20.39%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ING has a short ratio of 0.62 and outstanding shares of 3.90B.

Company Outlook

ING has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 0.97. Investors should also keep an eye on sector updates as ING has historically followed its peers on positive news.

All told, ING Groep N.V. ING has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ING represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

ING Groep N.V. ING is now commanding a market cap of 32.21B and a float of 3.90B. ING is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ING stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ING, either long or short, and we have not been compensated for this article.

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