Royal Bank of Canada Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price raised by Royal Bank of Canada from C$82.00 to C$88.00 in a research note issued on Monday,BayStreet.CA reports. Royal Bank of Canada’s price target would indicate a potential upside of 0.76% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Barclays decreased their price target on shares of Sun Life Financial from C$87.00 to C$86.00 in a research note on Friday. Scotiabank decreased their price target on shares of Sun Life Financial from C$94.00 to C$90.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. CIBC lowered their target price on shares of Sun Life Financial from C$94.00 to C$89.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, TD Securities upped their target price on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the stock a “hold” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Moderate Buy” and an average target price of C$86.10.

Sun Life Financial Stock Up 0.9%

Shares of SLF traded up C$0.80 during mid-day trading on Monday, reaching C$87.34. The company’s stock had a trading volume of 735,782 shares, compared to its average volume of 2,170,104. The company has a market cap of C$49.89 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a quick ratio of 84,866.00, a current ratio of 92.19 and a debt-to-equity ratio of 26.00. Sun Life Financial has a 1 year low of C$64.38 and a 1 year high of C$88.54. The business has a fifty day moving average of C$80.28 and a 200 day moving average of C$82.22.

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.