Citigroup Boosts PT & '11 EPS Estimate for Manulife Financial

Published on Mon, 01/10/2011 - 12:02
By FNNO Staff in Analyst reflections, MFC, business, finance, investing, manulife financial, market analysis, mfc, news, stock trading
business, finance, investing, manulife financial, market analysis, mfc, news, stock trading

Citigroup Inc. raised its price target for Manulife Financial Corp. (NYSE:MFC) by $0.50 to $15.00 on Monday, with a Sell rating maintained. The firm's 2011 EPS estimate was also lifted by $0.05 to $1.65. Company shares are trading 1.18% lower at $17.54.

Manulife Financial has reported $40.2 billion in sales over the past 12 months and is expected to report $35.7 billion in sales in the next fiscal year.

The firm was previously downgraded to Hold from Buy, with its price target lowered to $18.00 from $25.00, at TD Newcrest on July 19, 2010.

By FNNO Staff
fnnonline@gmail.com

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