Evercore ISI lowered the firm’s price target on Voya Financial (VOYA) to $89 from $94 and keeps an Outperform rating on the shares. Voya gave out a negative update on its medical stop loss business, where elevated claims frequency should now cause a sizeable Q4 loss for this business, and should also prevent the company to returning to its target margin range in 2025, the analyst tells investors. Following these announcements, the firm lowered its Q4 EPS estimate to 72c and for 2025 lowered its EPS estimate to $8.33 from $9.25.
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