Voya Financial price target raised to $83 from $80 at JPMorgan

JPMorgan analyst Jimmy Bhullar raised the firm’s price target on Voya Financial to $83 from $80 and keeps an Overweight rating on the shares after hosting meetings with management. Management’s tone on business trends was upbeat and it reiterated that it has "largely executed on M&A strategy" and is "focused on integration," which should alleviate concerns about additional acquisitions, the analyst tells investors in a research note. The firm considers the resumption of buybacks, an increase in the dividend, and upward revisions in earnings forecasts as potential catalysts for the stock.