The Globe and Mail reports in its Tuesday, Jan. 17, edition that BMO analyst Tom MacKinnon rates Manulife Financial "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Mackinnon hiked his target to $29 from $25. Analysts on average target the shares at $25.41. Mr. MacKinnon says in a note, "Should rates continue to increase meaningfully, perhaps to the 3-per-cent range seen during the 'Taper Tantrum,' we believe MFC offers the greatest potential for multiple expansion and share price appreciation." On the insurance sector, Mr. MacKinnon says, "If long-term interest rates, primarily the U.S. 10 year treasury yield, increases to 3 per cent, as BMO Economics forecasts to happen by mid-2018, we could see a further 18-per-cent multiple appreciation for MFC, 11 per cent for IAG, and 5 per cent for SLF." Desjardins Securities analyst Doug Young recommended buying lifecos in the Eye column on Dec. 22, 2016, when Manulife was trading at $24.61. In the item, Mr. Young noted that Manulife was also one of Desjardins's "top picks" for 2017. The Globe reported Credit Suisse analyst Andrew Garthwaite's recommendation to buy insurance stocks on Dec. 23, 2016. Manulife was then worth $24.44.