Sun Life Financial (SLF), one of the world’s largest life insurance companies, announced Wednesday the launch of Sun Life Health. The objective of this new division is to help clients achieve a healthy lifestyle, regardless of where they are in their health journey.
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Initially, Sun Life Health will combine Group Benefits and Lumino Health. Sun Life’s award-winning platform, Lumino Health, is the largest free virtual network of health resources in the country. (See Sun Life Financial stock charts on TipRanks)
Sun Life Canada president Jacques Goulet said, “Our aim is to empower Canadians with the support they need to take action earlier, helping prevent and mitigate health risks.”
Two months ago, RBC Capital analyst Darko Mihelic maintained a Hold rating on Sun Life, and raised its price target to C$71. This implies 7.4% upside potential.
Overall, the consensus is that SLF is a Hold, based on two Buys, one Hold, and one Sell. The average Sun Life price target of C$70.50 implies 7.4% upside potential to current levels.
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