CIBCThis is a small extract from this flash report so there's potential for them to raise their current target of $74.00. GLTA
EQUITY RESEARCH
October 12, 2021 Flash Research
SUN LIFE FINANCIAL INC.
Unlocks Value Of India Asset Management Joint Venture
Our Take: Positive. SLF is surfacing value on a high-multiple business (>30x P/E). Proceeds from the partial sale can be used to fund acquisitions at a lower multiple (e.g., the recently announced acquisition of DentaQuest at 13.7x) and the continuing ownership stake provides further upside potential from a high-growth business.