Sun Life Financial Inc SLFIF

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In a research report previewing earnings season for Canadian life insurance companies, CIBC World Markets analyst Paul Holden upgraded a pair of stocks:

* Manulife Financial Corp.  to “neutral” from “underperformer” with a $30 target, up from $28. The average is $30.67.

* Sun Life Financial Inc.  to “outperformer” from “neutral” with a $75 target, up from $73. The average is $74.17.

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A few more comments. GLTA “Our expectation is that interest rates will stay higher for longer than implied by the market, which is a relative positive for lifecos over banks,” he said. “Regulatory capital also remains a relative positive for the lifecos and we expect relatively solid Q4 results. For these reasons we think it is a good time to trim bank exposure and add to lifecos. Our preferred