UPDATE: Piper Sandler Upgrades Voya Financial (VOYA) to Overweight

(Updated - September 30, 2022 8:57 AM EDT)

Piper Sandler analyst John Barnidge upgraded Voya Financial (NYSE: VOYA) from Neutral to Overweight with a price target of $70.00 (from $65.00).

The analyst commented, "Upgrading to Overweight from Neutral: 1) acquisition of AGI’s U.S. funds offers enhanced distribution with limited FX exposure while offering revenue protection from flow leakage; 2) VOYA is an inflation net beneficiary; 3) over-indexing to government, education & healthcare, we believe insulates VOYA relative to peers; 4) upcoming management change represents continuity with focus paid towards best-in-class free cash conversion."

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 $60.92 yesterday.

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