The Globe and Mail reports in its Friday, Feb. 14, edition that Desjardins Securities analyst Doug Young continues to rate Sun Life Financial "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Young cut his share target to $90 from $95. Analysts on average target the shares at $89.75. Mr. Young says in a note: "Underlying EPS was $1.68 vs our estimate of $1.80 and consensus of $1.77. Relative to our estimates, Sun Life beat, Manulife Financial, Asia and corporate were in line, while Canada and the U.S. missed. A tough quarter for sure, especially at its U.S. medical stop loss business which drove the vast majority of the miss. However, we believe the stock pullback is overdone. We lowered our estimates and target price." The Globe reported on Oct. 11 that Mr. Young had reaffirmed his "buy" recommendation for Sun Life when it could be had for $78.76. The Globe reported on Feb. 4 that Scotia Capital analyst Meny Grauman had reaffirmed his "sector outperform" recommendation for Sun Life. The insurer's shares could then be had for $82.70.
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