Sun Life Financial (TSE:SLF) Price Target Raised to C$85.00 at Barclays

Key Points

• Barclays raised its price target on Sun Life Financial (TSE:SLF) from C$84 to C$85, which implies a potential downside of about 6.85% from the stock's then-current price.
• Several other analysts increased targets — including Desjardins to C$101, Jefferies to C$103, BMO to C$100 and RBC to C$95 — yet the MarketBeat consensus remains a Hold with a consensus target of C$96.67.
• Shares traded at C$91.25 (up C$2.43); Sun Life reported quarterly EPS of C$1.96 and revenue of C$8.67B, with a market cap of about C$50.5B and a PE of ~14.8.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price objective upped by research analysts at Barclays from C$84.00 to C$85.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Barclays's target price would suggest a potential downside of 6.85% from the stock's current price.

A number of other research firms have also issued reports on SLF. Desjardins increased their target price on Sun Life Financial from C$96.00 to C$101.00 and gave the company a "buy" rating in a report on Friday, February 13th. Royal Bank Of Canada increased their target price on 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. TD Securities reduced their target price on Sun Life Financial from C$104.00 to C$102.00 and set a "buy" rating for the company in a report on Thursday, February 12th. Jefferies Financial Group increased their target price on Sun Life Financial from C$97.00 to C$103.00 in a report on Friday, February 13th. Finally, BMO Capital Markets increased their target price on 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$96.67.

Sun Life Financial Price Performance

Shares of TSE:SLF traded up C$2.43 on Wednesday, reaching C$91.25. 528,028 shares of the company traded hands, compared to its average volume of 2,111,164. Sun Life Financial has a fifty-two week low of C$74.56 and a fifty-two week high of C$94.76. The company's 50 day moving average is C$88.21 and its 200-day moving average is C$85.87. The stock has a market capitalization of C$50.54 billion, a PE ratio of 14.84, a P/E/G ratio of 1.33 and a beta of 0.69. 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 (TSE:SLF - Get Free Report) NYSE: SLF last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported C$1.96 EPS for the quarter. The company had revenue of C$8.67 billion during the quarter. Sun Life Financial had a return on equity of 14.68% and a net margin of 9.74%. As a group, analysts anticipate that Sun Life Financial will post 6.9230769 earnings per share 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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