Canadian Imperial Bank of Commerce Increases Sun Life Financial (TSE:SLF) Price Target to C$102.00

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Sun Life Financial from C$95.00 to C$102.00, implying roughly a 6.84% upside from the current share price.
• Analyst consensus is a "Moderate Buy" with an average price target of C$101.60, while individual broker targets range widely (e.g., Jefferies C$115, TD C$107) and ratings include one Strong Buy, five Buy, four Hold and one Sell.
• Shares traded around C$95.47 mid-day; Sun Life has a market cap of C$52.89 billion, a P/E of 15.52, and reported C$1.89 EPS and C$8.73 billion revenue for the most recent quarter.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price objective hoisted by research analysts at Canadian Imperial Bank of Commerce from C$95.00 to C$102.00 in a report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price suggests a potential upside of 6.84% from the company's current price.

Several other analysts have also issued reports on SLF. Jefferies Financial Group boosted their target price on Sun Life Financial from C$103.00 to C$115.00 in a research note on Friday, May 1st. National Bank Financial dropped their price objective on shares of Sun Life Financial from C$109.00 to C$108.00 and set an "outperform" rating on the stock in a report on Thursday. Scotiabank upped their price target on shares of 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. Desjardins set a C$101.00 target price on Sun Life Financial and gave the stock a "buy" rating in a research report on Friday, April 17th. Finally, TD lifted their target price on Sun Life Financial from C$102.00 to C$107.00 and gave the company a "buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$101.60.

Sun Life Financial Stock Performance

Shares of TSE SLF traded up C$0.68 during mid-day trading on Friday, reaching C$95.47. 552,666 shares of the company's stock were exchanged, compared to its average volume of 1,999,555. The firm has a market capitalization of C$52.89 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73. The firm has a 50-day moving average price of C$90.61 and a two-hundred day moving average price of C$87.40. The company has a debt-to-equity ratio of 74.49, a current ratio of 2.78 and a quick ratio of 84,866.00. Sun Life Financial has a 52 week low of C$77.38 and a 52 week high of C$101.15.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last released its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. Sun Life Financial had a net margin of 9.74% and a return on equity of 14.68%. The firm had revenue of C$8.73 billion for the quarter. Analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

Sun Life Financial Company Profile

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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