Voya Financial: An Attractive Opportunity In A Consolidating Industry - Analyst Reaffirms Strong Buy - Voya Financial (NYSE:VOYA)

Raymond James analyst Wilma Burdis reiterated a Strong Buy rating on the shares of Voya Financial, Inc. VOYA, raising the price target to $89 from $84.
The analyst remains particularly upbeat about the company's core businesses, which have no remaining long-tailed liabilities.
In addition, the company's high-quality Wealth Solutions, Health Solutions, and Investment Management businesses are poised for growth going ahead, the analyst notes.
Voya Financial's Investment Management business is also expected to strengthen due to the Allianz Global Investors (AGI) deal.
Considering the Bull Case, the analyst considers Voya Financial as an "attractive opportunity" to potential buyers. Both the asset management and retirement services industries are consolidating as top players look to gain scale.
The analyst's lower estimate reflects the expectation for continued pressure on alternative returns in 1Q23. Quarterly results will be released on May 2, 2023, after the closing bell.
Price Action: VOYA shares are trading lower by 2.64% at $75.00 on the last check Tuesday.

Momentum31.58

Growth41.86

Quality13.10

Value81.66

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Voya Financial: An Attractive Opportunity In A Consolidating Industry - Analyst Reaffirms Strong Buy