UPDATE: Bank of America Initiates ING U.S. at Neutral on ROE Improvement
In a report published on Tuesday, Bank of America analyst Seth Weiss initiated coverage on ING U.S. (NYSE: VOYA) with a Neutral rating and a $30 price target.
In the report, Bank of America commented that, "We are initiating coverage of ING U.S. (ticker VOYA) with a $30 price objective and a Neutral rating. We believe ING U.S. offers a substantial ROE improvement opportunity within the life insurance sector. However, after the 45% increase in the stock since the 5/1 IPO (and the 36% increase, excluding the day-one IPO pop), we believe the market is already partially pricing in the success of the ROE plan."
ING U.S. closed on Monday at $28.41
Latest Ratings for VOYA
|Jan 2017||JP Morgan||Downgrades||Neutral||Underweight|
|Nov 2016||RBC Capital||Downgrades||Top Pick||Outperform|
|Sep 2016||Wells Fargo||Initiates Coverage on||Market Perform|
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