Manulife Financial (MFC) has been listed on the Dow Jones Sustainability Index (DJSI) North America again this year. Manulife is one of only seven North American insurers admitted to this index, a distinction that underscores its continued commitment to a strong sustainability record.
An Index of Sustainability Leaders
The Dow Jones Sustainability Index North America consists of sustainability leaders designated by S&P Global, representing the top 20% of the 600 largest Canadian and U.S. companies.
The DJSI is a recognized standard that measures the environmental, social, and governance (ESG) progress of companies across all sectors. (See Analysts’ Top Stocks on TipRanks)
“This recognition demonstrates our leadership and focus on sustainability,” said Sarah Chapman, Manulife’s Global Chief Sustainability Officer. “We play an active role in supporting global climate goals and helping to create a healthier, more equitable future for our customers and the communities we call home around the globe.
“With our mission Decisions Made Easier. Lives Made Better., at the centre of our impact agenda, we will continue to take action to create a better future for our stakeholders.”
Wall Street’s Take
On November 17, National Bank analyst Gabriel Dechaine reiterated a Hold rating on MFC and raised its price target to C$28 (from C$27). This implies 10.9% upside potential.
The rest of the Street is cautiously optimistic on MFC with a Moderate Buy consensus rating based on four Buys and five Holds. The average Manulife Financial price target of C$31.77 implies 25.9% upside potential to current levels.
TipRanks’ Smart Score
MFC scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns are likely to outperform the overall market.