ING U.S. upgraded to Buy at Deutsche

|By:, SA News Editor

Analyst Yaron Kinar notes several catalysts, but the main one is $2 per share of DTA allowance to become available thanks to the recent domesticization of VOYA's VA subsidiary. There's also yesterday's cutting of parent ING's stake below 50% - improving liquidity and taking VOYA one step closer to eligibility to join the S&P 500. Finally, the just-announced $300M buyback should boost ROE.