ING’s stock has struggled this year, but it remains one of the best positioned banks in Europe, said David Marcus, Portfolio Manager for the Evermore Global Value Fund. Marcus added that ING is inexpensive relative to its peers, trading below book value. He said ING spinoff Voya is another stock with tremendous potential and also sports a cheap valuation. Marcus said Voya is ramping up advertising and has become a well branded asset manager in a short period of time. Finally, Marcus is bullish on European media giant Vivendi, saying the company is worth more than the sum of its parts.
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