Scotiabank Lowers Sun Life Financial (TSE:SLF) Price Target to C$94.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price cut by research analysts at Scotiabank from C$98.00 to C$94.00 in a research report issued on Friday,BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 20.24% from the company’s current price.

Several other equities research analysts have also recently issued reports on SLF. National Bankshares cut their target price on Sun Life Financial from C$95.00 to C$93.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays raised their target price on Sun Life Financial from C$82.00 to C$87.00 in a research note on Monday, January 6th. TD Securities raised their target price on Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Cormark raised their target price on Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday, November 5th. Finally, CIBC raised their price target on Sun Life Financial from C$96.00 to C$97.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$87.10.

Sun Life Financial Price Performance

Shares of TSE:SLF traded down C$0.27 during midday trading on Friday, hitting C$78.18. The company had a trading volume of 997,911 shares, compared to its average volume of 1,792,957. Sun Life Financial has a twelve month low of C$64.38 and a twelve month high of C$88.54. The company has a debt-to-equity ratio of 26.00, a current ratio of 92.19 and a quick ratio of 84,866.00. The stock has a market cap of C$44.66 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The business’s 50-day simple moving average is C$84.53 and its 200-day simple moving average is C$79.51.

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.