National Bank Reviews Sun Life's Q3-March 2024-www.financetom.com

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National Bank Reviews Sun Life's Q3

Nov 5, 2024 9:14 AM

11:54 AM EST, 11/05/2024 (MT Newswires) -- Sun Life Financial ( SLF ) reported third quarter underlying EPS of $1.76, above National Bank's $1.71 forecast and consensus of $1.70.

Analyst Gabriel Dechaine writes that Sun Life put up a strong quarter overall. This was highlighted by a modest rebound in U.S. Group/Dental results, following a very weak second quarter; clarification on the timing of cost-saving initiatives announced during the second quarter; and a 4% dividend increase.

"At a high level, it is hard to overlook SLF's recent track record of ROEs hovering around 18%, which is the company's target return. We believe investors are anticipating an increase to this target during the November 13th Investor Day."

Target raised by $1, to $82. Reiterate Sector Perform

Price: 79.01, Change: +1.56, Percent Change: +2.01

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