Desjardins Issues Pessimistic Forecast for Sun Life Financial (TSE:SLF) Stock Price

Key Points

• Desjardins has cut its price target for Sun Life Financial from C$95.00 to C$90.00, indicating a potential upside of 14.01% from the company's previous close.
• Recent ratings from analysts show a mix of opinions, with three hold ratings, four buy ratings, and one strong buy rating, resulting in an average rating of "Moderate Buy".
• Sun Life Financial's shares traded at C$78.94, with a market capitalization of C$45.09 billion and a 1-year stock price range between C$65.79 and C$91.11.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price target cut by investment analysts at Desjardins from C$95.00 to C$90.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Desjardins' price target suggests a potential upside of 14.01% from the company's previous close.

Several other equities research analysts have also weighed in on the company. Scotiabank upgraded Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. National Bankshares cut Sun Life Financial from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from C$93.00 to C$87.00 in a research note on Friday. CIBC lowered their target price on Sun Life Financial from C$94.00 to C$89.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada lowered their target price on Sun Life Financial from C$88.00 to C$84.00 in a research note on Monday. Finally, TD Securities raised their price target on Sun Life Financial from C$83.00 to C$86.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$86.67.

Sun Life Financial Stock Performance

Shares of TSE SLF traded up C$1.09 during trading hours on Monday, hitting C$78.94. 686,122 shares of the company's stock were exchanged, compared to its average volume of 2,094,354. The company's 50-day moving average price is C$86.65 and its 200-day moving average price is C$83.54. The company has a debt-to-equity ratio of 26.00, a current ratio of 92.19 and a quick ratio of 84,866.00. The stock has a market capitalization of C$45.09 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 1-year low of C$65.79 and a 1-year high of C$91.11.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 37,662 shares of Sun Life Financial stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of C$87.60, for a total value of C$3,299,191.20. Also, Senior Officer Jacques Jr. Goulet sold 44,199 shares of Sun Life Financial stock in a transaction dated Friday, June 6th. The shares were sold at an average price of C$88.17, for a total value of C$3,897,025.83. Over the last quarter, insiders sold 188,721 shares of company stock worth $16,554,701. Company insiders own 0.03% of the company's stock.

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.

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