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Credit Suisse has decided to maintain its Outperform rating of Sun Life Financial (NYSE:SLF) and lower its price target from $79.00 to $77.00.
Shares of Sun Life Financial are trading down 0.87% over the last 24 hours, at $50.40 per share.
A move to $77.00 would account for a 52.78% increase from the current share price.
Sun Life provides life insurance, retirement, and asset management products to individuals and corporate customers in Canada, the United States, and Asia. The company's investment management business contributes approximately 38% of its adjusted earnings and has around CAD 900 billion in assets under management as of third-quarter 2022. The Canada business contributes about 32% of adjusted earnings and provides individual life and health insurance, group insurance, retirement services, and wealth management solutions. The U.S. business contributes approximately 14% of earnings and is mainly focused on providing group insurance products and managing the in-force life insurance policies. Finally, the Asia segment contributes around 16% of earnings.
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
Posted In: SLF
