The Globe and Mail reports in its Wednesday, Nov. 6, edition that TD Cowen analyst Mario Mendonca has reaffirmed his "hold" recommendation for Sun Life Financial. The Globe's David Leeder writes that Mr. Mendonca saw his share target climb to $81 from $77. Analysts on average target the shares at $84.62. Mr. Mendonca says in a note: "Sun Life beat estimates on strong morbidity (group) and fee income (group retirement savings), partially offset by elevated credit losses. The quarter again featured surprisingly high outflows at Manulife Financial. While U.S. dental earnings remain weak (expected), U.S. group sales (including dental) did show momentum over Q3/23. Management remains confident that dental sales/earnings will recover in '25. ... Top line results were mixed. Individual protection sales were up 9 per cent year-over-year, reflecting weak results in Canada (lower third party) and strong sales in Asia (HK and India). U.S. group sales were up 22 per cent, reflecting stronger dental and employee benefits sales. Better dental sales included Medicaid and commercial. Management believes dental disenrollment is complete. Despite good Asian insurance sales, CSM from new business was up only 3.5 per cent year-over-year."