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 $1.63 today and has $62.24 target or 27.00% above today’s $49.01 share price. The 7 months technical chart setup indicates low risk for the $30.85B company. The gap was reported on Nov, 10 by Barchart.com. If the $62.24 price target is reached, the company will be worth $8.33 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 917,805 shares traded hands. Sun Life Financial Inc (TSE:SLF) has risen 11.12% since April 6, 2016 and is uptrending. It has outperformed by 5.48% 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 -6.88% below today’s ($49.01) stock price. Sun Life Financial Inc. has been the topic of 37 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Friday, August 7 the stock rating was maintained by Barclays Capital with “Overweight”. As per Thursday, August 6, the company rating was upgraded by TD Securities. The firm has “Neutral” rating by Macquarie Research given on Thursday, November 5. The company was maintained on Wednesday, September 21 by Dundee Securities. The stock of Sun Life Financial Inc (TSE:SLF) earned “Outperform” rating by RBC Capital Markets on Friday, November 6. The stock has “Buy” rating given by Bank of America on Monday, September 21. TD Securities maintained Sun Life Financial Inc (TSE:SLF) on Friday, August 12 with “Buy” rating. RBC Capital Markets maintained the shares of SLF in a report on Friday, September 11 with “Outperform” rating. The firm earned “Underperform” rating on Wednesday, August 24 by Bank of America. IBC maintained Sun Life Financial Inc (TSE:SLF) rating on Thursday, August 6. IBC has “Sector Perform” rating and $47 price target.

More important recent Sun Life Financial Inc (TSE:SLF) news were published by: Prnewswire.com which released: “Sun Life Financial increases dividend” on November 09, 2016, also Forbes.com published article titled: “Sun Life Financial’s Preferred Shares Series 3 Yield Pushes Past 5%”, Forbes.com published: “RSI Alert: Sun Life Financial Now Oversold” on September 13, 2016. More interesting news about Sun Life Financial Inc (TSE:SLF) was released by: Benzinga.com and their article: “Keep an Eye on These 10 Stocks for November 9, 2016” with publication date: November 09, 2016.

Sun Life Financial Inc. is the holding firm of Sun Life Assurance Company of Canada. The company has a market cap of $30.85 billion. The Firm is a financial services organization providing a range of protection and wealth services and products. It has a 14.79 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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