Voya Financial rises after Morgan Stanley upgrades to 'overweight'

Voya Financial

28/02/2025 18:58

** Shares of wealth and investment company Voya Financial VOYA.N rise as much as 3.5%; last up 1.9% at $71.87

** Morgan Stanley upgrades VOYA to "overweight" from "equal-weight"; raises PT to $87 from $76, a 23.4% upside to stock's last close

** Brokerage says current valuation does not fully reflect VOYA's potential

** Adds that strategic initiates in 2025 should help VOYA meaningfully rebound from 2024

** Brokerage had downgraded VOYA to "equal-weight" in August amid concerns over deteriorating performance in its health solutions business

** Seven of 14 brokerages rate the stock "buy" or higher and seven "hold"; median PT is $81 - data compiled by LSEG

** As of last close, VOYA up 2.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))