Scotiabank Upgrades Sun Life and Downgrades Manulife Ahead of Q3 Earnings
Scotiabank has adjusted its outlook for two major Canadian life insurance providers ahead of their third-quarter earnings announcements. The bank upgraded Sun Life Financial (SLF:CA) while simultaneously downgradingly rating Manulife Financial (MFC:CA). Despite the divergent ratings, Scotiabank anticipates a generally positive quarter for the life insurance sector. Analysts expect most companies in this space to report mid-to-high single-digit core earnings per share (EPS) growth, supported by stable market conditions.
