Voya Financial named Top Pick in Life Insurance at Morgan Stanley

Morgan Stanley analyst Bob Huang moved Voya Financial (VOYA) to Top Pick among the analyst’s coverage, maintaining an Overweight rating and $93 price target on shares. Potential policy changes on 401(k) businesses suggested by President Trump should have limited disruption to Voya and other life insurers, contends the analyst, who argues that 401(k) worries and concern on the Retirement segment that are pressuring the stock are “overdone.” EPS growth remains strong and the stock is “attractive,” the analyst added.