ING Groep price target raised to $22.50 from $21.35 at Berenberg

Berenberg analyst Hugh Moorhead raised the firm’s price target on ING Groep to $22.50 from $21.35 and keeps a Buy rating on the shares. The firm says sceptics about ING’s medium-term growth targets often overlook the bank’s retail challenger and growth markets. These markets can contribute disproportionately to ING’s planned loan and deposit growth, fee growth, and efficiency targets, the analyst tells investors in a research note.