Recent Performance: Manulife Financial's share price has increased by 6.6% over the past month, contributing to an 8.5% gain year-to-date and a 128.3% return over three years, driven by interest in stable financials and positive analyst outlooks.
Valuation Insights: The Excess Returns model indicates that Manulife is undervalued by 57.4%, with an estimated intrinsic value of CA$111.99 per share compared to its current trading price, suggesting significant potential upside.
PE Ratio Analysis: Manulife's current PE ratio of 14.9x is above the industry average, and a proprietary Fair Ratio suggests it should be higher at 17.7x, indicating the stock may be undervalued based on earnings expectations.
Narrative Approach: The article introduces the concept of Narratives, which allow investors to connect their outlook on Manulife's business with financial forecasts, helping to assess fair value and make informed investment decisions.
Wall Street analysts forecast MFC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MFC is 40.09 USD with a low forecast of 37.21 USD and a high forecast of 51.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
Wall Street analysts forecast MFC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MFC is 40.09 USD with a low forecast of 37.21 USD and a high forecast of 51.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 36.750
Low
37.21
Averages
40.09
High
51.00
Current: 36.750
Low
37.21
Averages
40.09
High
51.00
Barclays
Equal Weight
maintain
$49 -> $52
2026-01-08
Reason
Barclays
Price Target
$49 -> $52
AI Analysis
2026-01-08
maintain
Equal Weight
Reason
Barclays raised the firm's price target on Manulife Financial to C$52 from C$49 and keeps an Equal Weight rating on the shares. The firm is "cautiously optimistic" on life insurers heading into 2026, saying capital strength, cash flow, and consolidation offset headwinds like spread compression and technology spend. Barclays adjusted ratings and price targets as part of its 2026 outlook.
CIBC
Neutral -> Outperformer
upgrade
$50 -> $58
2026-01-08
Reason
CIBC
Price Target
$50 -> $58
2026-01-08
upgrade
Neutral -> Outperformer
Reason
CIBC upgraded Manulife Financial to Outperformer from Neutral with a price target of C$58, up from C$50, based on execution against medium-term targets, potential upside to consensus estimates based on those medium-term objectives, and the potential for further multiple expansion.
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Morgan Stanley
Equal Weight
maintain
$50 -> $51
2025-12-15
Reason
Morgan Stanley
Price Target
$50 -> $51
2025-12-15
maintain
Equal Weight
Reason
Morgan Stanley raised the firm's price target on Manulife Financial to $51 from $50 and keeps an Equal Weight rating on the shares. Lower interest rates and a steady or better equity market should serve as the broader macro backdrops and 2026 should see "similar fundamental trends as 2025," the analyst tells investors in a life insurance group outlook note.
Morgan Stanley
Equal Weight
maintain
$47 -> $50
2025-11-17
Reason
Morgan Stanley
Price Target
$47 -> $50
2025-11-17
maintain
Equal Weight
Reason
Morgan Stanley raised the firm's price target on Manulife Financial to $50 from $47 and keeps an Equal Weight rating on the shares. The firm updated models in the insurance space post the Q3 reports. Life insurance earnings reports were better than what share price reactions would suggest, the analyst tells investors in a research note. For property and casualty, Morgan Stanley sees a softening cycle heading into 2026.
About MFC
Manulife Financial Corporation is an international financial services provider. It provides financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Its segments include Wealth and asset management businesses (Global WAM), Insurance and annuity products (Asia, Canada and U.S.), and the Corporate and Other segment. Wealth and asset management businesses branded as Manulife Investment Management, provide investment advice and solutions to retirement, retail, and institutional clients. It also includes Manulife Comvest Credit Partners, a private credit asset management platform. Insurance and annuity products include a variety of individual life insurance, individual and group long-term care insurance and guaranteed and partially guaranteed annuity products. Products are distributed through multiple distribution channels, including insurance agents, brokers, banks, financial planners and direct marketing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
