Wells Fargo lowered the firm’s price target on Voya Financial (VOYA) to $87 from $92 and keeps an Overweight rating on the shares. The firm notes the company put out a presentation with an update on its stop loss business. Voya now expects the January 2024 policy year loss ratio to be 90%-105% vs. 86% previously and expects 2025 to be above the long-term target of 77%-80%.
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