Barclays' John Aiken Maintain Overweight, $36 TP. Manulife came in ahead of expectations on the back of ongoing growth in its Asia platform, writes Barclays' John Aiken. The recovery in profitability from the third quarter, increase in its book value and outlook for 2022 (including likely strong earnings correlations to rate hikes) should help support its valuation moving forward.
Maintain Overweight, $36 TP.