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ING cuts Fortis Belgium to "hold".

(ADPnews) - Aug 26, 2009 - ING Fin. Markets downgraded today Fortis Belgium (EBR:FORB) to "hold" from "buy".

The downgrade follows the raise of the company's share price by 250% since the beginning of the year.

The share price target was lifted to EUR 3.50 from EUR 2.55.

According to analyst Albert Ploegh, investors expect too much from Fortis.

At 1237 CET on Wednesday Fortis had lost 0.76% to EUR 3.27 in Brussels.

(EUR 1.0 = USD 1.430)
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Publication:ADP News Belgium
Date:Aug 26, 2009
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