The Globe and Mail reports in its Tuesday, May 16, edition that RBC Dominion Securities analyst Darko Mihelic has elevated his recommendation for Sun Life Financial to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Mihelic gave his share target a $3 boost to $79. Analysts on average target the shares at $73.57. Mr. Mihelic thinks Sun Life Financial's "earnings volatility is comparatively low with higher than average earnings growth." Mr. Mihelic says in a note: "SLF is trading at a P/B multiple of 1.84 times, above its historical average and peer average of 1.37 times. On a P/E basis, SLF is trading at 9.6 times, below its long-term average of 11 times but above the peer average of 9.2 times. This is the first quarter we are seeing under IFRS 17, so we note that consensus estimates (and our own) could have more estimation error than normal. SLF's stock has underperformed peers this year, yet its fundamental earnings performance very much outperformed peers this quarter and in our view, we think this type of outperformance can continue all else equal." The Globe reported on Feb. 28 that Barclays rated Sun Life "overweight." It was then worth $65.94.