Price Target Update on Manulife Financial Corp (NYSE:MFC)

Manulife Financial Corp (NYSE:MFC) : The consensus price target for Manulife Financial Corp (NYSE:MFC) is $16.76 for the short term with a standard deviation of $1.55. The most optimist securities analyst among the 4 who monitor the stock believes that the stock can reach $18, however, the pessimist price target for the company is $15.

Other Equity analysts have also commented on the company shares. Equity analysts at the Brokerage firm Canaccord Genuity downgrades its rating on Manulife Financial Corp (NYSE:MFC). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on February 12, 2016.

Manulife Financial Corp (NYSE:MFC): stock turned positive on Thursday. Though the stock opened at $14.59, the bulls momentum made the stock top out at $14.74 level for the day. The stock recorded a low of $14.57 and closed the trading day at $14.7, in the green by 2.65%. The total traded volume for the day was 2,171,308. The stock had closed at $14.32 in the previous days trading.

The company shares have dropped -26.34% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $19.59 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $14.37 and the 200 Day Moving Average price is recorded at $14.03.

Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia, Canadian and U.S. Divisions, and the Corporate and Other segment. Its Asia, Canadian and U.S. Divisions segment offers protection and wealth management services, such as life insurance and individual group long-term care insurance, annuities, pension contracts and mutual fund products and services, retirement products, and deposit and credit products to Canadian customers, among others. The Companys Corporate and Other segment consists of investment performance on assets backing capital, net of amounts allocated to operating division and financing costs, external asset management business, and property and casualty (P&C) reinsurance business, among others.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.