The Globe and Mail reports in its Saturday, Feb. 16, edition that BMO analyst Tom Mackinnon upgraded Sun Life Financial ($53.82) to "outperform" from "market perform" based on improved earnings visibility and its "strong" capital position.
The Globe's David Leeder writes in the Eye On Equities column that Mr. Mackinnon elevated his share target to $61 from $56. Analysts on average target the shares at $57.62.
Mr. Mackinnon also raised his rating for CI Financial ($28.30) to "outperform" from "market perform," citing its "attractive" valuation and "strong" buyback support.
He says, "In our view, CI shares are attractively valued with good prospects going forward." Mr. Mackinnon increased his target by a loonie to $32. The average is $30.36. The Globe's guest columnist Sean Pugliese recommended buying Sun Life in the Number Cruncher column on Nov. 30, 2017. The shares were then worth $50.98. The Globe reported on Feb. 1, 2018, that Scotia Capital analyst Sumit Malhotra had upgraded Sun Life to "sector outperform" from "sector perform." The shares could then be had for $53.37. The Globe reported on Oct. 4, 2017, that CIBC analyst Paul Holden rated CI "outperformer." The shares were then worth $27.75.
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