20:28:13 EDT Thu 06 Aug 2020
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Manulife Financial Corp
Symbol MFC
Shares Issued 1,948,859,681
Close 2020-01-02 C$ 26.70
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Globe says Manulife sees TSX Comp gaining 8.4% in 2020

2020-01-03 07:19 ET - In the News

The Globe and Mail reports in its Friday, Jan. 3, edition that market forecasters are cautious on Canadian equities going into 2020. The Globe's David Milstead writes that the median forecast for the S&P/TSX Composite Index for the end of 2020 is 17,625, which would represent a gain of just more than 3 per cent, says a Reuters survey of 26 market prognosticators. Certainly, there are bulls and bears. The highest forecast was 20,000 by Toronto's Selective Asset Management. If that comes true, Canadians can look forward to a 17-per-cent gain in the Composite this year. StennerZohny Group, which missed its 2019 projection badly by forecasting an index sinking to the 12,000 mark, has reiterated the number for 2020. Manulife Investment Management stockpicker Philip Petursson submitted an end-of-2020 Composite forecast of 17,000 to Reuters, essentially predicting a flat market. However, after extensive analysis of the profit potential of Canadian companies and their stocks' price-to-earnings multiples, he has bumped his forecast up to 18,500 -- a gain of about 8.4 per cent. Sprung Investment's Michael Sprung is forecasting a 14,500 close for the Composite, a 15-per-cent decline from current levels.

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