Manulife Financial price target raised to C$34 from C$27 at Scotiabank » 11:4001/3001/30/23
Scotiabank analyst Meny…
Scotiabank analyst Meny Grauman raised the firm's price target on Manulife Financial to C$34 from C$27 and keeps an Outperform rating on the shares.
|Over a week ago|
Manulife Financial price target raised to C$27 from C$23 at CIBC » 12:3701/2501/25/23
CIBC analyst Paul Holden…
CIBC analyst Paul Holden raised the firm's price target on Manulife Financial to C$27 from C$23 and keeps an Underperformer rating on the shares.
Manulife Financial price target raised to C$26 from C$24 at National Bank » 12:2901/2501/25/23
National Bank analyst…
National Bank analyst Gabriel Dechaine raised the firm's price target on Manulife Financial to C$26 from C$24 and keeps a Sector Perform rating on the shares.
Manulife Financial initiated with a Neutral at Credit Suisse » 06:2601/1201/12/23
Credit Suisse analyst Joo…
Credit Suisse analyst Joo Ho Kim initiated coverage of Manulife Financial with a Neutral rating. While the analyst expects Manulife Financial to deliver the best growth out of the group in his forecast period, he believes the discount valuation could remain until the needle moves on the company's legacy business.
|Over a month ago|
Manulife Financial announces pledge to 1t.org » 09:0212/1212/12/22
Manulife announced a…
Manulife announced a pledge to 1t.org to accelerate and scale nature-based solutions in an effort to mitigate climate change. Through its partnership with the World Economic Forum's Trillion Trees initiative, Manulife is making the commitment to accelerate a sustainable future with tangible results by 2027. Efforts will strive to accelerate the pace of innovation around amplifying the carbon removal benefits of forests while aiming to solve investor needs and will take shape in the form of a partnership to share knowledge, tools, and experience, and support of local communities, nature, and biodiversity. "As a global life insurer and asset manager, and one of the world's largest timberland and farmland investment managers, we understand the connection between our environment and human health. We are well-positioned to provide and manage investments in nature-based solutions to advance climate change mitigation and are thrilled to build on our partnership with the World Economic Forum to do just that," said Sarah Chapman, Chief Sustainability Officer, Manulife.
Manulife appoints Don Lindsay as vice chair of board of directors » 09:4311/1111/11/22
Manulife announced the…
Manulife announced the appointment of Don Lindsay as Vice Chair of the Board of Directors of Manulife Financial Corporation and The Manufacturers Life Insurance Company. John Cassaday will retire on February 15, 2023 after thirty years of service as a member of the Board, and as Chairman for the past five years, at which time Don will become Chair of the Board.
|Over a quarter ago|
Manulife Financial price target lowered to C$24 from C$25 at National Bank » 12:1910/2810/28/22
National Bank analyst…
National Bank analyst Gabriel Dechaine lowered the firm's price target on Manulife Financial to C$24 from C$25 and keeps a Sector Perform rating on the shares.
Manulife Financial price target lowered to C$29 from C$30 at Barclays » 05:2510/1210/12/22
Barclays analyst John…
Barclays analyst John Aiken lowered the firm's price target on Manulife Financial to C$29 from C$30 and keeps an Overweight rating on the shares. Despite higher yields, the continued decline in equity valuations for the Canadian insurers will likely dampen earnings growth in the quarter driven by lower asset levels within the wealth operations and seed losses, Aiken tells investors in a research note. Additionally, the analyst anticipates losses from Hurricane Ian to "weigh heavily" on the property and casualty reinsurance businesses of the life companies.
Capital Power, Manulife Investment Management complete facility acquisition » 09:0409/2309/23/22
Capital Power and…
Capital Power and Manulife Investment Management, on behalf of the Manulife Infrastructure Fund II and its affiliates, announced today that they have completed the acquisition of a 100% interest in MCV Holding Company, which owns Midland Cogeneration Venture, a 1,633-megawatt natural gas combined-cycle cogeneration facility. The acquisition was previously announced on July 12, 2022. Midland Cogen was acquired from OMERS Infrastructure Management Inc. and its co-investors for $894M, subject to working capital and other closing adjustments, and includes the assumption of $521M of project level debt. Under the 50/50 joint venture with Manulife Investment Management, Capital Power and its joint venture partner each contributed approximately $186M. Capital Power financed the transaction using cash on hand and its credit facilities. Capital Power will be responsible for operations and maintenance and asset management for which it will receive an annual management fee. Located in Michigan, Midland Cogen is the largest gas-fired cogeneration facility in North America, is a critical asset to support grid reliability during the transition to renewables and is well-positioned, given anticipated market conditions, for recontracting beyond 2030. It currently operates under long-term contracts until 2030 and 2035 with high quality counterparties. For Capital Power, the acquisition provides immediate adjusted funds from operations accretion with the 5-year average accretion forecasted to be $0.30 per share, representing a 7.0% increase. Financial projections include an average adjusted EBITDA of $59M per year and an average AFFO of $35M per year during the 5-year period from 2023 to 2027.
Gorilla appoints Choi as Global Head of People & HR » 08:0309/2109/21/22
Gorilla Technology (GRRR)…
Gorilla Technology (GRRR) announced the appointment of Hee-Won Choi as its Global Head of People & Human Resources. Hee-Won has more than 14 years of extensive HR experience committing to both in-house and outsourcing specializations of global organizations. Previously Hee-Won held the role of HR Operations Director for Hong Kong, Macau, Taiwan and joint venture entities in China for a global insurance market leader Manulife (MFC).