Manulife Financial Corporation (MFC)’s Medium-Term Progress Supports a More Constructive Outlook, CIBC Says

Group 1 - Manulife Financial Corporation (MFC) has been upgraded to Outperformer by CIBC, with a price target increase from C$50 to C$58, reflecting steady progress towards medium-term goals and potential for higher stock multiples over time [2] - The core life insurance business of Manulife is performing well, supported by higher yields on longer-duration assets, which aids in aligning long-term liabilities with cash-generating assets [3] - The wealth management segment is experiencing growth, particularly in Asia, where significant investments have been made, contributing to the long-term investment case for the company [4] Group 2 - Manulife operates globally under the Manulife brand in Canada, Asia, and Europe, and under the John Hancock name in the United States, providing insurance and financial advice [4]