-- TD Securities raised its price targets on Sun Life Financial Inc. (SLF.TO) to $107 from $102, and on Great-West Lifeco Inc. (GWO.TO) to $80 from $73, respectively, on Thursday.
Analyst Mario Mendonca maintained a Buy rating on both Canadian financial service and insurance companies following their quarterly results.
"SLF beat our estimate on stronger US and Asian results," Mendonca said in a note to clients. "Pricing actions and reserving point to better US results in 2026."
"While MFS margins remain healthy, outflows remain elevated," the analyst said. "Asia sales and earnings remain healthy."
"We characterize GWO's Q1/26 results as the strongest among the large insurers so far," Mendonca said.
"Solid growth in the US Retirement & Wealth earnings (margins) and better flows in Retirement (slightly softer net flows in Wealth), accelerating growth in Capital Solutions and a nearly 20% ROE in the quarter support this characterization."