- Raymond James Analyst Wilma Burdis reiterated a Strong Buy rating on the stock Voya Financial, Inc. VOJA, Price target increased to $89 from $84.
- The analyst remains particularly bullish on the company’s core businesses, which have no remaining long-term debt.
- Additionally, the company’s high-value Wealth Solutions, Health Solutions and Investment Management businesses are poised for continued growth, the analyst notes.
- Voya Financial’s investment management business is also expected to grow due to the Deal with Allianz Global Investors (AGI).
- In light of the bull case, the analyst sees Voya Financial as an “attractive opportunity” for potential buyers. Both the wealth management and retirement savings industries are consolidating as top players attempt to gain scale.
- The analyst’s lower estimate reflects expectations of continued pressure on alternative yields in 1Q23. Quarterly results will be released on May 2, 2023, after the closing bell.
- price action: VOYA shares trade 2.64% lower at $75.00 on latest check Tuesday.
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