BMO Capital Markets Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Key Points

• BMO Capital Markets raised its price target on Sun Life to C$105 (from C$99), implying roughly a 9.98% upside from the prior close.
• Analyst consensus is a “Moderate Buy” with a consensus price target of C$101.60; ratings are mixed (1 Strong Buy, 5 Buy, 4 Hold, 1 Sell).
• Sun Life traded at C$95.47 (52‑week range C$77.38–C$101.15) after reporting quarterly EPS of C$1.89 and revenue of C$8.73B, with a market cap of C$52.89B and a P/E of 15.52.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price objective boosted by equities researchers at BMO Capital Markets from C$99.00 to C$105.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets' price target indicates a potential upside of 9.98% from the stock's previous close.

SLF has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce increased their price target on shares of Sun Life Financial from C$93.00 to C$95.00 and gave the company a "neutral" rating in a report on Thursday, January 8th. Scotiabank raised their price objective on Sun Life Financial from C$93.00 to C$96.00 and gave the company a "sector perform" rating in a research note on Friday, February 13th. National Bank Financial lowered their target price on Sun Life Financial from C$109.00 to C$108.00 and set an "outperform" rating on the stock in a report on Thursday. Jefferies Financial Group lifted their price target on Sun Life Financial from C$103.00 to C$115.00 in a research note on Friday, May 1st. Finally, Royal Bank Of Canada raised their target price on shares of Sun Life Financial from C$83.00 to C$95.00 and gave the company a "sector perform" rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$101.60.

Sun Life Financial Stock Up 0.7%

TSE SLF traded up C$0.68 on Friday, hitting C$95.47. 552,666 shares of the stock were exchanged, compared to its average volume of 1,999,555. Sun Life Financial has a fifty-two week low of C$77.38 and a fifty-two week high of C$101.15. The company has a quick ratio of 84,866.00, a current ratio of 2.78 and a debt-to-equity ratio of 74.49. The company has a market cap of C$52.89 billion, a PE ratio of 15.52, a PEG ratio of 1.33 and a beta of 0.73. The company has a 50-day moving average price of C$90.61 and a 200-day moving average price of C$87.40.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. The company had revenue of C$8.73 billion during the quarter. Sun Life Financial had a return on equity of 14.68% and a net margin of 9.74%. Sell-side analysts anticipate that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

About Sun Life Financial

Sun Life Financial is one of Canada's Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.

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