Voya Financial price target raised to $87 from $80 at RBC Capital

RBC Capital analyst Mark Dwelle raised the firm’s price target on Voya Financial (VOYA) to $87 from $80 and keeps an Outperform rating on the shares after its Q2 earnings beat. The key positive in the quarter would be the favorable prior year development in stop-loss, the analyst tells investors in a research note. RBC adds that it remains positive on Voya’s capital-light, high free cash flow generating business model and organic growth opportunity.