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UPDATE: Raymond James Starts Voya Financial (VOYA) at Strong Buy

September 21, 2022 4:13 PM EDT
Get Alerts VOYA Hot Sheet
Price: $69.16 -0.83%

Rating Summary:
    16 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 23 | New: 19
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(Updated - September 22, 2022 6:26 AM EDT)

Raymond James analyst Wilma Burdis initiates coverage on Voya Financial (NYSE: VOYA) with a Strong Buy rating and a price target of $84.00.

The analyst comments "We see numerous catalysts for VOYA to re-rate. VOYA is going through management changes and AGI deal integration, which we expect it to effectively manage throughout 2023. Additionally, we see the potential for VOYA to boost its ~1% dividend yield. The media has cited VOYA as a takeout candidate; while unlikely, we expect the company would command a ~$100 deal price. VOYA’s ~$6.2B market cap is manageable for would be acquirers. We see multiple potential buyers for Wealth and Investment Management, as the asset management and retirement industries are consolidating. Health Solutions is also a highly attractive business, which could potentially fetch a 20x+ P/E multiple."

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 $62.87 yesterday.


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