11:20:56 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Manulife Financial Corp
Symbol MFC
Shares Issued 1,805,798,064
Close 2024-03-22 C$ 32.66
Market Cap C$ 58,977,364,770
Recent Sedar Documents

Globe says Brookfield, Manulife rated "outperform"

2024-03-22 08:00 ET - In the News

See In the News (C-BN) Brookfield Corp

The Globe and Mail reports in its Friday, March 22, edition that RBC Capital Markets' Global Financials Research Group added Brookfield and Manulife Financial to its "Best Stock Ideas" list. The Globe's David Leeder writes that according to a research report published on Thursday, the valuations of global financial stocks are still attractive. The report's analysts also stated that the shares should experience a rerating due to more certainty on the path of economic recovery, including credit quality, as well as the regulatory backdrop. Pointing to "positive overall fundamentals" and "attractive valuation," analyst Geoffrey Kwan has an "outperform" recommendation and $53 (U.S.) share target for Brookfield. Analysts on average target Brookfield shares at $50.96 (U.S.). Mr. Kwong says, "[Trends at Brookfield] are improving and, to the extent interest rates decline, this should further benefit financial results." Touting a reduction to its long-term care (LTC) exposure from its deal with Global Atlantic as well as potential for growth in Asia and "strong" capital position, analyst Darko Mihelic has an "outperform" rating and $38 (Canadian) target for Manulife. Analysts on average target Manulife shares at $34.62 (Canadian).

© 2024 Canjex Publishing Ltd. All rights reserved.