Sun Life Financial (SLF) Receives a Buy from Barclays

By Ryan Adsit

Yesterday, an analyst has provided a rating update for the Financial sector company, Sun Life Financial (TSX: SLF). The company received a Buy rating from Barclays’ analyst John Aiken, with a C$58 price target.

Aiken has an average return of 11.0% when recommending Sun Life Financial.

According to TipRanks.com, Aiken is ranked #4552 out of 4850 analysts.

Currently, the analyst consensus on Sun Life Financial is a Moderate Buy with an average price target of C$60, implying a 15.2% upside from current levels. In a report released yesterday, TD Securities also reiterated a Buy rating on the stock with a C$62 price target.

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Based on Sun Life Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$7.23 billion and net profit of C$729 million. In comparison, last year the company earned revenue of C$6.81 billion and had a net profit of C$597 million.

Sun Life Financial, Inc. is a holding company, which engages in the provision of diversified financial services. It operates its business through its segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

The company’s shares closed on Thursday at C$52.10.