TSX:MFC - Post Discussion
Post by
Blueswin on Jan 13, 2022 2:00pm
Desjardins Securities analyst Doug Young
MFC—we expect momentum in Asia, growth in wealth management, expense efficiencies and share buybacks to support EPS growth in 2022. MFC could also further reduce its exposure to ‘legacy businesses’ via additional reinsurance transactions, which could be a catalyst; However, Mr. Young did warn that COVID-19-related headwinds will be present, pointing to “higher deaths in the insured population, higher-than-expected group benefit claims and lower sales in Asia from travel restrictions in certain regions.” Mr. Young cut his target for Manulife Financial Corp. (MFC-T), his No. 3 stock, by $1 to $29 with a “buy” rating. The average is $30.62.
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