Credit Suisse Remains a Buy on Sun Life Financial (SLF)

Credit Suisse analyst Mike Rizvanovic maintained a Buy rating on Sun Life Financial (SLFResearch Report) on July 29. The company’s shares closed last Wednesday at $40.32.

According to TipRanks.com, Rizvanovic is a 3-star analyst with an average return of 5.1% and a 58.8% success rate. Rizvanovic covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Canadian Western Bank.

Currently, the analyst consensus on Sun Life Financial is a Moderate Buy with an average price target of $41.73, which is a 6.2% upside from current levels. In a report issued on July 20, RBC Capital also maintained a Buy rating on the stock with a C$61.00 price target.

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Based on Sun Life Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.49 billion and net profit of $380 million. In comparison, last year the company earned revenue of $11.41 billion and had a net profit of $714 million.

Based on the recent corporate insider activity of 126 insiders, corporate insider sentiment is neutral on the stock.

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Sun Life Financial, Inc. is a holding company. The firm engages in the provision of financial services. It operates through the following segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate. The Sun Life Financial Canada segment offers individual insurance and wealth, and group benefits and retirement services. The Sun Life Financial United States segment consists of group benefits, international and in-force management services. The Sun Life Financial Asset Management segment focuses on the design and delivers investment products through MFS investment management, and Sun Life investment management. The Sun Life Financial Asia segment comprises of Philippines, Hong Kong, Indonesia, Vietnam, Malaysia, India, and China markets. The Corporate segment represents United Kingdom business unit and corporate support operations, which include run-off reinsurance operations as well as investment income, expenses, capital, and other items. The company was founded on March 18, 1865 and is headquartered in Toronto, Canada.