Canaccord GenuityMario Mendonca of Canaccord said MFC could be over priced here.
He recommends a hold.
He has a concern with MFC's book value, even though MFC is trading below its book value.
He also thinks they might be forced to raise more capital.
It would have been more timely, if he had said they needed more capital when the markets were lower a year ago,
and MFC was not so hedged.