Barclays Believes Sun Life Financial (TSX: SLF) Won’t Stop Here

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Financial sector company, Sun Life Financial (TSX: SLF). Analyst John Aiken from Barclays rated Sun Life Financial (TSX: SLF) a Buy, setting a C$57 price target.

According to TipRanks.com, Aiken is ranked 0 out of 5 stars with an average return of -4.2% and a 36.8% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.

Currently, the analyst consensus on Sun Life Financial is Strong Buy and the average price target is C$60, representing an 11.5% upside.

In a report issued on January 31, Scotiabank also upgraded the stock to Buy with a C$63 price target.

Based on Sun Life Financial’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$7.04 billion and quarterly net profit of C$230 million. In comparison, last year the company earned revenue of C$7.27 billion and had a net profit of C$751 million.

Sun Life Financial, Inc. is a diversified financial services company. It provides savings, retirement and pension products, and life and health insurance to individuals and groups through its operations in Canada, the United States, the United Kingdom and Asia.

The company’s shares closed on Friday at C$53.83, close to its 52-week high of C$55.20.