Jefferies initiated coverage of Manulife Financial with a Buy rating and C$40 price target. Earnings and profitability for the Canadian life and health insurance segment have been negatively impacted by low rates for some time, but the firm anticipates that the outlook for the Canadian lifecos will be “embraced by the market” as investment returns improve and investors become more comfortable with the new accounting regime.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MFC:
- Manulife Financial downgraded to Buy at TD Securities following outperformance
- Manulife Financial downgraded to Buy from Action List Buy at TD Securities
- Manulife Financial price target raised to C$38 from C$34 at RBC Capital
- Manulife Financial price target raised to C$40 from C$35 at Scotiabank
- Manulife Financial downgraded to Reduce from Buy at Veritas
