** Barclays upgrades investment and insurance company Voya Financial VOYA.N to "overweight" from "equal-weight"

** Raises PT to $93 from $83, a 17.7% upside to stock's last close

** Cites belief in margin resilience in retirement, near-complete stop-loss remediation and attractive free cash flow generation

** VOYA has announced $75 million in strategic spend to grow wealth management within retirement, but the company has historically been able to offset a bulk of the spend and demonstrate strong margins - Brokerage

** Adds VOYA has been actively honing in on growth by investing in scaling up the business and strengthening its technological capabilities

** 6 of 11 brokerages rate the stock "buy" or "higher", 4 "hold" and 1 "sell"; median PT is $86 - data compiled by LSEG

** Including session moves, VOYA up 15.4% in last 12 months

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))