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Research Alert: CFRA Keeps Buy Opinion On Shares Of Manulife Financial Corporation
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Research Alert: CFRA Keeps Buy Opinion On Shares Of Manulife Financial Corporation
May 26, 2025 11:22 AM

01:25 AM EDT, 05/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price of USD36, valuing MFC shares at 12.2x our 2025 operating EPS estimate of USD2.95 (CAD4.11, converted at the May 20, 2025 spot rate, cut from CAD4.20) and 11.3x our 2026 operating EPS estimate of USD3.20 (CAD4.45, cut from CAD4.60), vs. peer average of 12x. Q1 adjusted EPS of CAD0.99 versus CAD0.91 compared to our CAD1.02 EPS estimate and the CAD0.98 consensus view. Results reflected strength in most areas, with profits in Asia up 7%, earnings in Canada up 3%, and Q1 Wealth and Asset management profits up 24%, partly offset by a 25% drop in U.S. profits, amid lower investment spreads, an increase in the provisions for expected credit losses, and some adverse prior-year insurance loss reserves. Despite the U.S. shortfall, we remain encouraged by the Q1 firm-wide 36% rise in the value of new business activity, and by several strategic initiatives MFC has undertaken. Currently trading at 10.8x our 2025 EPS estimate and yielding over 5%, we view the shares as undervalued vs. peers.

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