Bullboard - Stock Discussion Forum Sun Life Financial Inc T.SLF

Alternate Symbol(s): SLF | T.SLF.PR.C | SLFQF | T.SLF.PR.D | T.SLF.PR.E | T.SLF.PR.G | T.SLF.PR.H | SUNFF | T.SLF.PR.J | T.SLF.PR.K | SNLIF | SLFIF

Financial Services Insurance - Diversified

Sun Life Financial Inc. is a Canada-based international financial services company, which offers asset management, wealth, insurance and health solutions to individual and institutional clients. Its segments include Canada, United States (U.S.), Asset Management, Asia, and Corporate. The Canada segment provides protection, health, asset management and wealth solutions. It also offers a premier... see more

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TSX:SLF - Post Discussion

Sun Life Financial Inc > CIBC Upgrade

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Post by retiredcf on Oct 05, 2021 10:01am

CIBC Upgrade

EQUITY RESEARCH
October 4, 2021 Rating Change - Upgrade
SUN LIFE FINANCIAL INC.

Upgrading To Outperformer Following Announced Acquisition

Our Conclusion

We are increasing our price target from $72 to $74 to fully reflect one year of EPS accretion from theDentaQuest transaction. While we continue to value SLF at 11x forward earnings, there are an increasing number of reasons to argue for a higher multiple over time. The DentaQuest acquisition enhances these arguments as it is capital light, high return, has high cash flow conversion and strong growth tailwinds. With this acquisition, and in consideration of a lagging share price over the last six months, we are upgrading SLF from Neutral to Outperformer effective October 4.

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