Price Change to Note: A Reversal for Manulife Financial Corporation (USA) Is Not Near. The Stock Reaches 52-Week High Today

Price Change to Note: A Reversal for Manulife Financial Corporation (USA) Is Not Near. The Stock Reaches 52 Week High Today

The stock of Manulife Financial Corporation (USA) (NYSE:MFC) hit a new 52-week high and has $22.89 target or 33.00% above today’s $17.21 share price. The 8 months bullish chart indicates low risk for the $34.00B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $22.89 price target is reached, the company will be worth $11.22 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.16M shares traded hands. Manulife Financial Corporation (USA) (NYSE:MFC) has risen 15.58% since April 19, 2016 and is uptrending. It has outperformed by 11.72% the S&P500.

Manulife Financial Corporation (USA) (NYSE:MFC) Ratings Coverage

Out of 5 analysts covering Manulife Financial Corp. (NYSE:MFC), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Manulife Financial Corp. has been the topic of 8 analyst reports since July 29, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained it with “Outperform” rating and $26 target price in Friday, August 7 report. The stock of Manulife Financial Corporation (USA) (NYSE:MFC) earned “Buy” rating by TD Securities on Friday, August 7. The company was initiated on Wednesday, August 24 by Bank of America. IBC downgraded the stock to “Sector Perform” rating in Thursday, August 4 report. The stock of Manulife Financial Corporation (USA) (NYSE:MFC) has “Buy” rating given on Wednesday, September 21 by Dundee Securities. On Friday, November 13 the stock rating was maintained by RBC Capital Markets with “Outperform”.

According to Zacks Investment Research, “Manulife Financial Corporation is engaged in providing financial protection products and investment management services to individuals, families, businesses and groups in selected international markets.”

More notable recent Manulife Financial Corporation (USA) (NYSE:MFC) news were published by: Fool.ca which released: “Trump Makes Manulife Financial Corp. a Solid Long-Term Financials Play” on November 21, 2016, also Fool.ca with their article: “Manulife Financial Corp. Reminds Us of the Importance of Diversification” published on November 17, 2016, Fool.ca published: “Should You Buy Manulife Financial Corp. After a Fantastic Q3?” on November 11, 2016. More interesting news about Manulife Financial Corporation (USA) (NYSE:MFC) were released by: Fool.ca and their article: “Why Manulife Financial Corp. Could Outperform in 2017” published on November 03, 2016 as well as Fool.ca‘s news article titled: “Why Asia Is Key for Manulife Financial Corp. to Succeed” with publication date: August 29, 2016.

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