Great-West Lifeco upgraded to Buy from Hold at Jefferies

Jefferies analyst John Aiken upgraded Great-West Lifeco (GWLIF) to Buy from Hold with a price target of C$70, up from C$67. Coming out of the third quarter, there were questions about whether Great-West could maintain its improved profitability, but those were answered by the “solid” fourth quarter earnings, the analyst tells investors. The firm, which believes the “engine for future outsized growth in the U.S. appears to be gaining traction,” expects that fourth quarter results should be sufficient to gain back some lost valuation.