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.