The stock of Manulife Financial Corp. (TSE:MFC) hit a new 52-week high and has $35.83 target or 57.00% above today’s $22.82 share price. The 8 months bullish chart indicates low risk for the $46.02 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $35.83 price target is reached, the company will be worth $26.23 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.13M shares traded hands. Manulife Financial Corp. (TSE:MFC) has risen 30.33% since April 8, 2016 and is uptrending. It has outperformed by 25.35% the S&P500.
Manulife Financial Corp. (TSE:MFC) Ratings Coverage
Out of 9 analysts covering Manulife Financial Corp. (TSE:MFC), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. $26 is the highest target while $19 is the lowest. The $23.20 average target is 1.67% above today’s ($22.82) stock price. Manulife Financial Corp. has been the topic of 16 analyst reports since October 28, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, September 21 by Dundee Securities.
More important recent Manulife Financial Corp. (TSE:MFC) news were published by: Business.Financialpost.com which released: “Manulife Financial Corp profit soars 79.6% on investment gains” on November 10, 2016, also Fool.ca published article titled: “Why Manulife Financial Corp. Could Outperform in 2017”, Reuters.com published: “BRIEF-Manulife Financial Corp reports 3Q16 results” on November 10, 2016. More interesting news about Manulife Financial Corp. (TSE:MFC) was released by: Fool.ca and their article: “Why Manulife Financial Corp. Should Be Part of Every Portfolio” with publication date: October 27, 2016.
Manulife Financial Corporation is a life insurance company. The company has a market cap of $46.02 billion. The Firm is a holding firm of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. It has a 15.12 P/E ratio. The Company’s divisions, including Asia Division, Canadian Division, U.S.
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