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Fly News Breaks for November 1, 2018
VOYA
Nov 1, 2018 | 07:03 EDT
RBC Capital analyst Mark Dwelle lowered his price target on Voya Financial to $55 to reflect the "actuarial adjustment" in Q3 and the assumption of 1-times estimated 2019 book value vs. 1.1-times prior amid declining multiples across the sector. The analyst also keeps his Outperform rating on the shares and sees the recent pullback as an "excellent opportunity" to participate in Voya Financal's "positively changing business model". Dwelle adds that he looks ahead to the company's strategic updates at its upcoming investor day.
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