Argus analyst Jacob Kilstein upgraded Sun Life Financial (SLF) to Buy from Hold with a price target of $39, saying the company's valuation has become attractive after an 18% decline in the stock price since his last published report. The analyst cites Sun Life Financial's consistently strong earnings and above peer average ROE, along with some of its recent "small acquisitions" that should boost its earnings. Kilstein adds that his price target on the stock implies a forward earnings multiple of 10.5-times, which is still below the peer average of 11.7% valuation seen in the likes of Aflac (AFL) and Primerica (PRI).