Argus Downgrades Sun Life Financial (SLF) to Hold

Argus downgraded Sun Life Financial (NYSE: SLF) from Buy to Hold as shares have risen 15% since the U.S. presidential election and have now surpassed their former target price of $37.

The firm is concerned about weakness in the core Canadian business, lower margins, and the negative impact of a strengthening Canadian dollar. The company has also suspended share repurchases as it uses capital for organic growth and acquisitions.

On the positive side, Sun Life has generated a consistently high underlying ROE, which was 13.4% in the third quarter, the analsyt highlighted.

For an analyst ratings summary and ratings history on Sun Life Financial click here. For more ratings news on Sun Life Financial click here.

Shares of Sun Life Financial closed at $38.65 yesterday.

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