Manulife Financial (MFC:TSX) Scotia Capital bullish, boosts target price

Analyst Stock Coverage

Scotia Capital has upgraded its target price for Manulife’s stock from its previous estimate and now has the new target price for the stock at $34, per share, up from its previous target, $27. The analyst maintains its “Outperform” rating on the stock. This indicates that Scotia Capital’s analysts believe that the stock has the potential to outperform the market over the next 12 months

STA Research reiterated its “Hold” rating for the stock. The target price set by STA Research is $22 per share on a 12 month outlook.

MFC Stock Forecast & Analysis

The average of the target prices set by 12 analysts for Manulife Financial Corp over the next 12 months is CAD 25.22. The average analyst rating for Manulife Financial Corp is “Hold”, indicating a neutral outlook for the stock. Stock Target Advisor’s analysis of Manulife Financial Corp is “Slightly Bullish”, which is based on 6 positive signals and 4 negative signals. The stock price for Manulife Financial Corp at the last closing was CAD 26.15 and it has increased by 2.55% in the past week, 7.57% in the past month, but remained unchanged over the last year.

Manulife News

Manulife Investment Management and Trust Corp. has launched two new unit investment trust funds (UITF) in the Philippines. The Manulife Asia Short Duration Bond Feeder Fund is a bond feeder UITF that invests primarily in investment-grade short-duration fixed-income securities in Asia, Australia and New Zealand, with a maximum portfolio duration of three years. The Manulife Global Dynamic Leaders Equity Feeder Fund is an equity feeder UITF that invests in a portfolio of equity and equity-related securities of large-cap companies globally. The funds can be invested in both peso and US dollar share classes starting from P1,000 and $100, respectively. According to Manulife Investment Management’s CEO, high-quality Asian bonds and global equities can offer investment opportunities and long-term potential capital appreciation and dividends.

 

 

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