Manulife Financial (MFC) Price Target Raised to C$31.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by Barclays from C$30.00 to C$31.00 in a note issued to investors on Thursday. Barclays’ target price would indicate a potential upside of 15.54% from the company’s previous close.

MFC has been the subject of several other research reports. TD Securities upped their price objective on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock a “hold” rating in a research report on Tuesday. National Bank Financial upped their price objective on shares of Manulife Financial from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 9th. CSFB upped their price objective on shares of Manulife Financial from C$28.00 to C$31.00 in a research report on Wednesday, November 1st. Desjardins upped their price objective on shares of Manulife Financial from C$28.00 to C$30.00 in a research report on Monday, November 13th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a C$30.00 price objective on shares of Manulife Financial in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of C$29.64.

Manulife Financial (TSE:MFC) traded up C$0.17 on Thursday, reaching C$26.83. 3,162,980 shares of the company traded hands, compared to its average volume of 2,770,379. Manulife Financial has a 1-year low of C$22.39 and a 1-year high of C$27.54. The company has a market capitalization of $53,840.00, a PE ratio of 14.74 and a beta of 0.99.

In other news, insider Warren A. Thomson sold 11,300 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of C$26.71, for a total value of C$301,823.00. Also, Director Rocco Gori bought 60,694 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of C$26.70 per share, with a total value of C$1,620,529.80.

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About Manulife Financial

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial (TSE:MFC)

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