Goldman Sachs Upgrades ING U.S (VOYA) to Buy
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Price: $67.52 -1.14%
Rating Summary:
16 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 47
Rating Summary:
16 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 47
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Goldman Sachs upgraded ING U.S (NYSE: VOYA) from Neutral to Buy with a price target of $43.00 (from $38.00), suggesting 21% upside.
Analyst Christopher Giovanni notes strong price performance since its May 1, 2013 IPO (+82% vs. peers +37%; S&P 500 +17%), the stock has traded just in-line with peers since mid-June 2013 (+30% vs. peers +26%; S&P 500 +14%).
Giovanni said, "We see further upside as (1) core business is underappreciated with ROE expansion poised to outpace peers on leverage to secular shifts and (2) non-core assets not recognized in share price. Also, various strategic initiatives create self-help attributes while its persistent discount to book value is increasingly attractive vs. peers, which trade comfortably above book.:
The firm lifted FY 2014 EPS from $2.90 to $2.95, FY 2015 EPS from $3.15 to $3.25 and FY 2016 from $3.40 to $3.55.
For an analyst ratings summary and ratings history on ING U.S click here. For more ratings news on ING U.S click here.
Shares of ING U.S closed at $35.49 yesterday.
Analyst Christopher Giovanni notes strong price performance since its May 1, 2013 IPO (+82% vs. peers +37%; S&P 500 +17%), the stock has traded just in-line with peers since mid-June 2013 (+30% vs. peers +26%; S&P 500 +14%).
Giovanni said, "We see further upside as (1) core business is underappreciated with ROE expansion poised to outpace peers on leverage to secular shifts and (2) non-core assets not recognized in share price. Also, various strategic initiatives create self-help attributes while its persistent discount to book value is increasingly attractive vs. peers, which trade comfortably above book.:
The firm lifted FY 2014 EPS from $2.90 to $2.95, FY 2015 EPS from $3.15 to $3.25 and FY 2016 from $3.40 to $3.55.
For an analyst ratings summary and ratings history on ING U.S click here. For more ratings news on ING U.S click here.
Shares of ING U.S closed at $35.49 yesterday.
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