Scotiabank Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective raised by stock analysts at Scotiabank from C$87.00 to C$93.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s target price would indicate a potential upside of 4.51% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. UBS Group raised Sun Life Financial to a “hold” rating in a research note on Thursday, October 16th. Jefferies Financial Group boosted their target price on shares of Sun Life Financial from C$96.00 to C$98.00 in a research report on Monday, November 10th. BMO Capital Markets dropped their price target on shares of Sun Life Financial from C$99.00 to C$95.00 in a research note on Monday, November 10th. Canadian Imperial Bank of Commerce raised their price target on shares of Sun Life Financial from C$93.00 to C$95.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Finally, TD Securities upped their price objective on shares of Sun Life Financial from C$99.00 to C$104.00 in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sun Life Financial presently has an average rating of “Hold” and a consensus price target of C$93.22.

Sun Life Financial Trading Up 0.2%

TSE SLF opened at C$88.99 on Thursday. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. Sun Life Financial has a 1-year low of C$74.56 and a 1-year high of C$91.11. The firm’s fifty day simple moving average is C$85.33 and its 200-day simple moving average is C$83.91. The company has a market capitalization of C$49.28 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Wednesday, November 5th. The financial services provider reported C$1.86 EPS for the quarter. Sun Life Financial had a return on equity of 15.69% and a net margin of 7.58%.The firm had revenue of C$9.07 billion for the quarter. As a group, sell-side analysts anticipate that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

About Sun Life Financial

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.