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National Bank Thinks Sun Life Financial’s Stock is Going to Recover


The Financial sector company, Sun Life Financial (SLF), has received a rating update from a Wall Street analyst today. The company received a Buy rating from National Bank’s analyst Gabriel Dechaine, with a C$55 price target.

According to TipRanks.com, Dechaine is a 4-star analyst with an average return of 10.3% and a 71.3% success rate. Dechaine covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Toronto Dominion Bank.

Currently, the analyst consensus on Sun Life Financial is a Strong Buy with an average price target of C$57.75.

Based on Sun Life Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$7.23 billion and net profit of C$729 million. In comparison, last year the company earned revenue of C$6.53 billion and had a net profit of C$841 million.

Sun Life Financial, Inc. is a holding company, which engages in the provision of diversified financial services. It operates its business through its segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

The company’s shares closed on Thursday at C$48.51, close to its 52-week low of C$47.05.