Sun Life Financial Downgraded to Sector Perform at RBC

MT Newswires Live11-10

Sun Life Financial Inc. (SLF.TO, SLF) was downgraded to Sector Perform from Outperform at RBC Capital Markets.

Analyst Darko Mihelic maintained a price target of $84 on shares of the Canadian financial services company following its Q3 results.

"SLF's underlying EPS was higher than our estimate and consensus, but the US segment had higher than expected experience losses related to Dental and stop-loss," Mihelic said in a note to clients.

"We do not expect material unfavourable stop-loss experience to persist into 2026, but we expect the Dental business to remain challenged throughout our forecast period; we lower our US estimates," the analyst said.

"We downgrade to Sector Perform (was Outperform) as SLF's implied return to target of 5.1% is too low to support an OP rating and we believe valuation upside could be difficult to attain until U.S. results improve."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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