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UPDATE: Bank of America Initiates ING U.S. at Neutral on ROE Improvement

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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

DateFirmActionFromTo
Jan 2017JP MorganDowngradesNeutralUnderweight
Nov 2016RBC CapitalDowngradesTop PickOutperform
Sep 2016Wells FargoInitiates Coverage onMarket Perform

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Posted-In: Bank of America Seth WeissAnalyst Color Initiation Analyst Ratings

 

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