National Bank Financial Cuts Sun Life Financial (TSE:SLF) Price Target to C$108.00

Key Points

• National Bank Financial trimmed its target on Sun Life to C$108.00 (from C$109.00) but kept an "outperform" rating, implying roughly a 13.77% upside from the current share price.
• Shares slid about 4.6% to C$94.93 on the day; analysts' views are mixed but the consensus is a "Moderate Buy" with an average target of C$100.40.
• Sun Life reported solid fundamentals last quarter with C$1.96 EPS, a return on equity of 14.68%, and revenue of C$8.67 billion.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its target price reduced by stock analysts at National Bank Financial from C$109.00 to C$108.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's target price would suggest a potential upside of 13.77% from the company's current price.

Other analysts have also issued research reports about the company. TD Securities dropped their price objective on Sun Life Financial from C$104.00 to C$102.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. BMO Capital Markets upped their price target on shares of Sun Life Financial from C$95.00 to C$100.00 and gave the company an "outperform" rating in a report on Friday, February 13th. 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 research report on Thursday, January 8th. Jefferies Financial Group boosted their price objective on shares of Sun Life Financial from C$103.00 to C$115.00 in a research report on Friday, May 1st. Finally, Scotiabank upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$100.40.

Sun Life Financial Trading Down 4.6%

Shares of TSE:SLF traded down C$4.60 on Thursday, reaching C$94.93. 1,419,350 shares of the company traded hands, compared to its average volume of 1,989,078. The stock has a market capitalization of C$52.59 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73. The business's 50-day simple moving average is C$90.50 and its 200 day simple moving average is C$87.33. The company has a current ratio of 2.78, a quick ratio of 84,866.00 and a debt-to-equity ratio of 74.49. 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 issued its earnings results on Wednesday, February 11th. The financial services provider reported C$1.96 earnings per share for the quarter. Sun Life Financial had a return on equity of 14.68% and a net margin of 9.74%.The company had revenue of C$8.67 billion during the quarter. As a group, equities analysts anticipate that Sun Life Financial will post 6.9230769 EPS for the current fiscal 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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