Market News

Sun Life Donates C$1M to Kids Help Phone

Sun Life Financial (SLF), one of the world’s largest life insurance companies, announced Thursday it is donating C$1 million to Kids Help Phone.

This money will help to provide vital mental health support to Indigenous youth across the country. (See Analysts’ Top Stocks on TipRanks)

Expansion of Brighter Days Program

Together, Sun Life and Kids Help Phone will expand Brighter Days: An Indigenous Wellness Program, from coast to coast. Over the next three years, Sun Life’s support of the Brighter Days Program will help 4,500 young people, ages 6-29, through 300 mental health sessions.

These sessions aim to give young people the skills, tools, and resources necessary to ensure their mental health and well-being.

President Commentary

Sun Life Canada president Jacques Goulet said, “At Sun Life, we believe mental health is health. Our goal is to ensure every person has access to the resources and support they need to live their healthiest life.

“Funding mental health programs designed with Indigenous youth, for Indigenous youth, is an important step to ensure everyone who lives in Canada has access to the support they need. We are committed to building a more resilient country.”

Wall Street’s Take

On November 5, CIBC analyst Paul Holden maintained a Buy rating on Sun Life and raised its price target to C$81 (from C$74). This implies 15% upside potential.

Overall, the consensus is that SLF is a Moderate Buy, based on nine Buys, one Hold, and one Sell. The average Sun Life price target of C$79.61 implies 13% upside potential to current levels.

TipRanks’ Smart Score

SLF scores a “Perfect 10” on the TipRanks Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.

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