Desjardins raised its price target on four Canadian life insurance companies ahead of their Q2 results beginning on July 28.
Analyst Doug Young increased his target on Sun Life Financial (SLF.TO) to C$120 from C$105, increased Manulife Financial (MFC.TO) to C$63 from C$58, lifted Great-West Lifeco (GWO.TO) to C$93 from C$80 and set iA Financial (IAG.TO) at C$205 from C$172.
"We expect a decent quarter for the lifecos, with core EPS growth of 7% yoy on average," Young said in a note to clients. "We also expect lower reported/core EPS variability, and we expect the market to reward cleaner results."
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