Manulife Financial (MFC) Receives a Buy from Barclays

By Austin Angelo

In a new note to investors on May 2, an analyst has provided a rating update for the Financial sector company, Manulife Financial (MFCResearch Report). The company received a Buy on May 2 from Barclays’ analyst John Aiken, with a C$29 price target.

According to TipRanks.com, Aiken is a 1-star analyst with an average return of -1.5% and a 43.0% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.

Currently, the analyst consensus on Manulife Financial is a Strong Buy with an average price target of C$29.40, representing a 17.8% upside. In a report issued on April 22, BMO Capital also reiterated a Buy rating on the stock with a C$32 price target.

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The company has a one-year high of C$25.20 and a one-year low of C$18.33. Currently, Manulife Financial has an average volume of 5.69M.

Manulife Financial Corp. is a financial services company, which engages in the provision of financial protection and wealth management products and services. It operates through the following business segments: Asia, Canada, U.S., Global Wealth and Asset Management and Corporate & Other.

The company’s shares closed on Friday at C$24.95, close to its 52-week high of C$25.20.