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Fly News Breaks for May 30, 2017
VOYA
May 30, 2017 | 07:01 EDT
Citi analyst Suneet Kamath expects the factors driving shares of Voya Financial down 11% year-to-date to abate. He attributes the selloff this year to negative earnings revisions and price-to-earnings ratio contraction. Over half of the earnings decline is due to discrete items that should not repeat to the same degree ahead, Kamath tells investors in a research note. He believes Voya shares are well positioned to re-rate higher and keeps a Buy rating on the name with a $51 price target.
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