UBS reaffirms its 'buy' recommendation on ING, despite a price target lowered from 17.1 to 16.3 euros, a new target that still harbors a 32% upside potential for the Dutch bank's stock.

Disappointing 2024 targets call for a resetting of expectations, but the share remains attractive", says the broker, who believes that "earnings risk is tilted to the upside on the basis of new, more conservative forecasts".

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