CIBC Raises Sun Life Financial (TSE:SLF) Price Target to C$80.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lifted by research analysts at CIBC from C$77.00 to C$80.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. CIBC’s target price would suggest a potential upside of 13.57% from the stock’s previous close.

A number of other research firms have also commented on SLF. TD Securities increased their price objective on Sun Life Financial from C$73.00 to C$75.00 and gave the company a “hold” rating in a research note on Friday, April 12th. National Bankshares increased their target price on Sun Life Financial from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday. BMO Capital Markets increased their target price on Sun Life Financial from C$70.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Desjardins increased their target price on Sun Life Financial from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Scotiabank increased their target price on Sun Life Financial from C$75.00 to C$76.00 in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.18.

Sun Life Financial Price Performance

Sun Life Financial stock traded down C$0.08 during trading hours on Tuesday, hitting C$70.44. The stock had a trading volume of 512,670 shares, compared to its average volume of 1,797,053. The company has a debt-to-equity ratio of 78.47, a current ratio of 6.81 and a quick ratio of 84,866.00. The stock has a market capitalization of C$41.03 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.25 and a beta of 0.96. Sun Life Financial has a 1-year low of C$61.84 and a 1-year high of C$74.94. The stock’s fifty day moving average is C$72.55 and its two-hundred day moving average is C$69.66.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its earnings results on Wednesday, February 7th. The financial services provider reported C$1.68 earnings per share for the quarter, beating the consensus estimate of C$1.59 by C$0.09. The company had revenue of C$18.68 billion for the quarter. Sun Life Financial had a return on equity of 13.98% and a net margin of 10.26%. As a group, analysts predict that Sun Life Financial will post 6.9036382 earnings per share for the current fiscal year.

Insider Activity at Sun Life Financial

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of C$74.45, for a total transaction of C$1,191,120.00. Company insiders own 0.03% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.