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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lifted by equities researchers at CIBC from C$96.00 to C$97.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 15.74% from the company’s previous close.

SLF has been the topic of a number of other research reports. Scotiabank lifted their price target on shares of Sun Life Financial from C$85.00 to C$96.00 in a report on Thursday, November 14th. Jefferies Financial Group upped their price target on Sun Life Financial from C$90.00 to C$94.00 in a research report on Thursday, November 14th. National Bankshares upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$82.00 to C$95.00 in a research report on Wednesday, January 15th. Royal Bank of Canada upped their target price on Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. Finally, Cormark raised their price target on shares of Sun Life Financial from C$82.00 to C$85.00 in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$86.73.

Sun Life Financial Trading Up 0.3 %

Shares of SLF stock opened at C$83.81 on Thursday. Sun Life Financial has a twelve month low of C$64.38 and a twelve month high of C$88.54. The stock’s fifty day simple moving average is C$85.17 and its 200 day simple moving average is C$78.49. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The firm has a market capitalization of C$48.32 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported C$1.76 earnings per share for the quarter, topping the consensus estimate of C$1.71 by C$0.05. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. During the same quarter in the previous year, the company earned $1.59 EPS. As a group, sell-side analysts predict that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Linda Dougherty bought 5,800 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of C$84.83 per share, with a total value of C$492,014.00. Also, Director Kevin Strain sold 85,943 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of C$84.71, for a total value of C$7,280,231.53. 0.03% of the stock is owned by company insiders.

Sun Life Financial Company Profile

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.