Could Manulife Financial Corp. Lose its Strength? The Stock Reaches 52-Week High

 Could Manulife Financial Corp. Lose its Strength? The Stock Reaches 52 Week High

The stock of Manulife Financial Corp. (TSE:MFC) hit a new 52-week high and has $25.69 target or 8.00% above today’s $23.79 share price. The 5 months bullish chart indicates low risk for the $47.28B company. The 1-year high was reported on Nov, 24 by Barchart.com. If the $25.69 price target is reached, the company will be worth $3.78B 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 154,645 shares traded hands. Manulife Financial Corp. (TSE:MFC) has risen 23.94% since April 20, 2016 and is uptrending. It has outperformed by 18.53% 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 -2.48% below today’s ($23.79) stock price. Manulife Financial Corp. has been the topic of 16 analyst reports since October 28, 2015 according to StockzIntelligence Inc. As per Wednesday, September 21, the company rating was maintained by Dundee Securities.

More notable recent Manulife Financial Corp. (TSE:MFC) news were published by: Fool.ca which released: “Trump Makes Manulife Financial Corp. a Solid Long-Term Financials Play” on November 21, 2016, also Marketwatch.com with their article: “Manulife Financial Corporation announces Preferred Share issue” published on November 14, 2016, Business.Financialpost.com published: “Manulife Financial Corp profit soars 79.6% on investment gains” on November 10, 2016. More interesting news about Manulife Financial Corp. (TSE:MFC) were released by: Forbes.com and their article: “Manulife Financial Reaches Analyst Target Price” published on November 15, 2016 as well as Fool.ca‘s news article titled: “Why Manulife Financial Corp. Is Heading Higher” with publication date: November 23, 2016.

Manulife Financial Corporation is a life insurance company. The company has a market cap of $47.28 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 15.76 P/E ratio. The Company’s divisions, including Asia Division, Canadian Division, U.S.

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