What Will Happen to Sun Life Financial Inc Next? The Stock Just Gapped Up

 What Will Happen to Sun Life Financial Inc Next? The Stock Just Gapped Up

The stock of Sun Life Financial Inc (TSE:SLF) gapped up by $0.04 today and has $61.43 target or 36.00% above today’s $45.17 share price. The 6 months technical chart setup indicates low risk for the $27.42 billion company. The gap was reported on Nov, 7 by Barchart.com. If the $61.43 price target is reached, the company will be worth $9.87 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 318,196 shares traded hands. Sun Life Financial Inc (TSE:SLF) has risen 5.90% since April 1, 2016 and is uptrending. It has outperformed by 3.95% the S&P500.

Sun Life Financial Inc (TSE:SLF) Ratings Coverage

Out of 12 analysts covering Sun Life Financial Inc. (TSE:SLF), 10 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 83% are positive. $52 is the highest target while $37.0 is the lowest. The $45.64 average target is 1.04% above today’s ($45.17) stock price. Sun Life Financial Inc. has been the topic of 37 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of Sun Life Financial Inc (TSE:SLF) earned “Neutral” rating by Macquarie Research on Thursday, November 5. The company was maintained on Friday, August 7 by Scotia Capital. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, August 7. As per Wednesday, December 23, the company rating was upgraded by Argus Research. The firm earned “Overweight” rating on Friday, August 7 by Barclays Capital. Credit Suisse upgraded Sun Life Financial Inc (TSE:SLF) on Thursday, August 6 to “Outperform” rating. The stock has “Buy” rating given by Bank of America on Monday, September 21. The firm has “Underperform” rating given on Wednesday, August 24 by Bank of America. The rating was maintained by IBC on Thursday, August 6 with “Sector Perform”. The stock of Sun Life Financial Inc (TSE:SLF) has “Sector Outperformer” rating given on Thursday, February 11 by IBC.

More recent Sun Life Financial Inc (TSE:SLF) news were published by: Forbes.com which released: “Sun Life Financial’s Preferred Shares Series 3 Yield Pushes Past 5%” on November 04, 2016. Also Forbes.com published the news titled: “RSI Alert: Sun Life Financial Now Oversold” on September 13, 2016. Zacks.com‘s news article titled: “Sun Life Financial Eyes Growth Despite Low Interest Rates” with publication date: October 14, 2016 was also an interesting one.

Sun Life Financial Inc. is the holding firm of Sun Life Assurance Company of Canada. The company has a market cap of $27.42 billion. The Firm is a financial services organization providing a range of protection and wealth services and products. It has a 13.63 P/E ratio. It operates in five divisions: Sun Life Financial Canada , Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate.

SLF.TO Company Profile

Sun Life Financial Inc. (Sun Life Financial), incorporated on August 5, 1999, is the holding firm of Sun Life Assurance Company of Canada. The Firm is a financial services organization providing a range of protection and wealth services and products to individuals and corporate customers. The Firm operates in five divisions: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate. The Firm operates in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda.

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