Manulife Financial price target lowered to C$45 from C$49 at Barclays

Barclays lowered the firm’s price target on Manulife Financial (MFC) to C$45 from C$49 and keeps an Equal Weight rating on the shares as part of a Q1 earnings preview for the insurance group. With life earnings facing challenges Barclays favors group benefits, excess capital, and “cheap” cash flows, the analyst tells investors in a research note. The firm says the sector is “navigating uncertainty.”