The Globe and Mail reports in its Friday edition that Scotia Capital analyst Meny Grauman has reaffirmed his "sector outperform" recommendation for Sun Life Financial. The Globe's David Leeder writes in the Eye On Equities column that Mr. Grauman's share target soared $11 to $96. Analysts on average target the shares at $85.83. Mr. Grauman says in a note: "After weeks of speculation that Sun Life would boost its medium-term ROE target at its November Investor Day, that is exactly what we got. With the stock up 22 per cent over the past three months alone, including 7 per cent over the past month, it is very clear that this expectation was already making its way into the share price, yet the lifeco's updated financial targets suggest that there is even more upside ahead. A simple PB/ROE regression suggests that Sun Life shares could trade at 2.3 times book if the company hits its new ROE objective. ... A 20-per-cent ROE target does not just put Sun Life ahead of all of its Canadian lifeco peers, but also well ahead of all the Canadian banks we cover as well. And yet, it is important to put Sun Life's ROE expansion story in the broader context of an insurance sector that is seeing ROE expansion across the board."