TD Securities raised the firm’s price target on Manulife Financial to C$40 from C$38 and keeps a Buy rating on the shares following the Asia investor day. The most important outlook offered by management was the increase to the core return on equity target to 18%-plus in 2027 from 15%, the analyst tells investors in a research note. The firm says its estimates incorporate share repurchases at a level consistent with the strong pace seen since 2022.
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