Desjardins Trims Manulife (MFC) Target Price to C$28.00

Manulife (TSE:MFC) (NYSE:MFC) had its price objective decreased by stock analysts at Desjardins from C$30.00 to C$28.00 in a research note issued to investors on Thursday. Desjardins’ price objective points to a potential upside of 20.74% from the stock’s previous close. Desjardins also issued estimates for Manulife’s Q1 2018 earnings at $0.60 EPS, Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.64 EPS and Q4 2018 earnings at $0.64 EPS.

MFC has been the subject of a number of other research reports. National Bank Financial increased their target price on shares of Manulife from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 27th. TD Securities increased their target price on shares of Manulife from C$28.00 to C$30.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. Scotiabank cut their target price on shares of Manulife from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. Finally, Barclays increased their target price on shares of Manulife from C$30.00 to C$31.00 in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a buy rating, Manulife presently has a consensus rating of “Buy” and a consensus target price of C$30.00.

MFC stock opened at C$23.19 on Thursday. Manulife has a 12-month low of C$22.62 and a 12-month high of C$27.77.

Manulife (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, February 7th. The financial services provider reported C$0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.59. Manulife had a negative net margin of 7.55% and a negative return on equity of 12.24%. The company had revenue of C$16.25 billion during the quarter.

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About Manulife

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

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