Manulife Financial Corp T.MFC

RE:Top Pick on BNN Market Call

[Possibleidiot01]

TOP PICK

Manulife Financial(MFC-T)

19/03/2024

 

Their big product was guaranteeing a life insurance policy on stock returns. So, when the market melted down, there was a big scare. Now, the market has come back, and those policies won't lose as much. MFC used to be held up by a fortress balance sheet. 15 years later, they've grown into that balance sheet. Saw nice earnings growth in 2023 and expects it also for 2024.

(Analysts’ price target is $35.37)

insurance

 

$32.890

Owned

Manulife (MFC TSX)

Fifteen years after the global financial crisis – which regulators forced MFC to build a fortress balance – the company has finally grown into that balance sheet and we are seeing respectable earnings and dividend growth. EPS is forecast to be in the 3.70 range and 12 times multiple would give a target of more than $44, or 38 per cent, which goes over 40 per cent when you add in the 4.9 per cent dividend.