UBS assumed coverage of Voya Financial (VOYA) with a Buy rating and price target of $89, down from $94. The firm is “cautiously positive” on the life insurance sector, citing “key positives” such as higher-for-longer interest rate environment, which it believes is favorable fundamentally and sentiment-wise, and balance sheet strength. Recent accounting changes have improved investor comfort around macro-related balance sheet assumptions in prior cycles, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VOYA:
- Voya Financial price target lowered to $80 from $81 at JPMorgan
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Roku initiated, Lululemon downgraded: Wall Street’s top analyst calls
- BofA downgrades Voya Financial to Underperform in ‘reset’ year
- Voya Financial downgraded to Underperform from Neutral at BofA