Voya Financial price target lowered to $79 from $84 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Voya Financial to $79 from $84 and keeps an Overweight rating on the shares. Operating earnings of $1.63 ran below consensus expectations of $1.82, notes the firm, which says the Voya thesis has “shifted away from being a restructuring/expense reduction story to being one more focused on the acceleration of growth.” Although earnings and guidance were “somewhat mixed,” the underlying fundamentals “appear to be largely intact for now,” the analyst added.