The target of 21 is easily achievable considering the rapid raising of long term bond rate from 1.5 to over 3 in the last 2 months. The analyst consensuses is also raising every month. I will just put the price at 45 - it may be 1 year or 2 years. Manulife has a very strong competitive edge in Canada and Globally. Steady and surely, I like their Asia business better for the growth. It's diversified in Canada, US and Asia, it's can shift resources where the growth and money is. The analyst is always late, I would like to hear your target price at the the end of the year. I was undecided to put my next investment in FCX or Manulife which I both hold now. Insider of FCX bought over 70 millions dollars of their own shares seem to be a no brianer for me to go all in. It has higher beta, but trend is very positive with gold.
Who raised their target to 21 and where is the link to the article?
MFC just keeps "drifting" and lately, it's been drifting downwards. Even with decent earnings. We need a better long term catalyst to get this back up to the levels that were seen a few years ago when MFC was trading in the 40's.
Look at Yahoo's analyst opinion and inches higher every time I look. The high end is 21 but I think MFC is more sensitive to interest rate than life insurance such as Sun Life. Sun Life has already surpassed the prerecession price. I think MFC can go back to 40-45 eventually depending the spread and playing catch up. The wealth management is the growth area for all Canadian banks. BMO reported double in wealth management revenue. MFC could even do better because of its sales force. Long term hold for me anyway till it hits 50 in one or two year. Collecting high dividend anyway. The chance of dividend increase should be near since all the financial institution has cut down the reserve on non-performing loan. Very strong balance sheet that I can sleep well at night.