Barclays Downgrades Voya Financial (VOYA) to Equalweight

Barclays analyst Alex Scott downgraded Voya Financial (NYSE: VOYA) from Overweight to Equalweight with a price target of $75.00.

The analyst comments: "We are downgrading VOYA to an Equal Weight from our prior Overweight rating underpinned by: 1) the weaker expected earnings power coming away from the company's new guidance; 2) risk to 2026 consensus estimates in the event that all the unfavorable 2025 items don't fully go away; and 3) limited valuation upside to our $75 price target. Regarding our price target specifically, we think the roughly 7.6x P/E multiple reflected in this level is appropriate given the heightened uncertainty around Stop Loss, and the potential that strategic spending in Health Solutions and Wealth Solutions need to continue into 2026 and 2027. One final point is that we continue to have a less favorable view of industry flows in defined contribution and had previously recommended an Overweight rating related to the potential for a more significant recovery from stop loss performance and momentum in Investment Management. With the guidance and earnings discussion pointing to a much slower recovery now, we see less need to stray from our overall unfavorable thematic view on defined contribution flows and competition more broadly."

For an analyst ratings summary and ratings history on Voya Financial click here. For more ratings news on Voya Financial click here.

Shares of Voya Financial closed at $72.22 yesterday.

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