Voya Financial price target raised to $85 from $80 at Piper Sandler

Piper Sandler raised the firm’s price target on Voya Financial to $85 from $80 and keeps an Overweight rating on the shares. The firm notes Lifeco. stocks continued to trade higher as concerns around credit and surrenders appear to have receded as rates backed off highs. Claims remain benign, but Piper is transitioning from seasonally strongest mortality quarter to winter months elevation. Risk transfers remain a key focus and secular theme with the emergence of more 3rd-party vehicles, it adds.