Voya Financial price target lowered to $85 from $87 at RBC Capital

RBC Capital lowered the firm’s price target on Voya Financial (VOYA) to $85 from $87 and keeps an Outperform rating on the shares after its Q3 results. The company’s 2026 capital allocation reflects planned expansion of wealth management platform, which could be a margin uplift, and the firm continues to favor Voya’s capital-light, high free cash flow generating business model and organic growth opportunity, the analyst tells investors in a research note.