11:25:29 EDT Mon 20 May 2024
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Sun Life Financial Inc
Symbol SLF
Shares Issued 584,617,001
Close 2024-02-07 C$ 70.78
Market Cap C$ 41,379,191,331
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Globe says strong core earnings growth seen at Sun Life

2024-02-07 07:41 ET - In the News

The Globe and Mail reports in its Wednesday, Feb. 7, edition that Scotia Capital analyst Meny Grauman has boosted his share target for Sun Life Financial by a loonie to $76. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $74.42. Mr. Grauman says in a note: "Our second favorite name is Sun Life Financial (the first being Manulife Financial) as its peer-leading ROE is likely to expand above 18 per cent in 2024, and toward 20 per cent over the next few years. We head into Q4 reporting essentially in-line with consensus for core EPS as we continue to factor in some near-term pressure in the company's U.S. dental business, but expect that impact to be transitory as per management guidance. Looking ahead to the year as a whole, we see strong core earnings growth and ROE expansion in-line with the company's medium-term target of 18 per cent plus helped in part by an active 3-per-cent buyback." The Globe reported on Oct. 27, 2022, and Feb. 1, 2024, that CIBC World Markets analyst Paul Holden had reaffirmed his "outperformer" recommendation for Sun Life when it could be had for $57.35 and $69.56.

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