
Shares of wealth and investment company Voya Financial VOYA.N rise as much as 3.5%; last up 1.9% at $71.87
Morgan Stanley upgrades VOYA to "overweight" from "equal-weight"; raises PT to $87 from $76, a 23.4% upside to stock's last close
Brokerage says current valuation does not fully reflect VOYA's potential
Adds that strategic initiates in 2025 should help VOYA meaningfully rebound from 2024
Brokerage had downgraded VOYA to "equal-weight" in August amid concerns over deteriorating performance in its health solutions business
Seven of 14 brokerages rate the stock "buy" or higher and seven "hold"; median PT is $81 - data compiled by LSEG
As of last close, VOYA up 2.4% YTD