The Globe and Mail reports in its Friday edition that CIBC World Markets analyst Paul Holden has elevated his recommendation for Manulife Financial to "outperform" from "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Holden gave his share target an $8 boost to $58. Analysts on average target the shares at $55.06. Mr. Holden issued his upgrade citing "execution against medium-term targets, potential upside to consensus estimates based on medium-term objectives and potential for further multiple expansion based on achieving its ROE objective." Mr. Holden says in a note: "We see room for P/E multiples to move higher. ... Manulife's refreshed strategy includes more ROE levers for ROE expansion, and this more diversified approach increases the probability of success, in our opinion. We estimate that 2027 consensus EPS could increase 8 per cent if Manulife achieves its 18-per-cent ROE target. We have increased our 2026 and 2027 EPS estimates to give more credit for further ROE expansion and our revised 2027E results in an ROE of 17.1 per cent." The Globe reported on Jan. 6 that RBC had reaffirmed its "outperform" recommendation for Manulife. The shares could then be had for $51.64.