ING was the markets top performer on Wednesday advancing +6.5% compounding the gains from Friday when it forecasted a NPAT of $80-$87m for the year ending 25th of June, this guidance was well in excess of analysts expectations due to the combination of improved operations and trading conditions. The stock’s reasonably priced and forecast to yield over 4% fully franked, with these tailwinds we can see a break well above $4 providing solid risk / reward and some appeal as an unconventional income stock.
MM is mildly bullish ING
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