Sun Life Donates C$400K to Spirit North

Sun Life Financial (SLF), one of the world’s largest life insurance companies, announced Thursday it has pledged C$400,000 to Spirit North, a national charity founded by Olympic champion Beckie Scott.

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The charity helps Indigenous youth improve their physical and mental health through sport and play. In collaboration with more than 60 communities, it manages sport and activity programs across Canada.

Sun Life Canada president Jacques Goulet said, “The pandemic has reinforced the importance of physical and mental health. It has also heightened the inequity of services and supports for communities across Canada. We must help those who face barriers to health services or are at risk of chronic illness.

“This partnership will help Indigenous children and youth get outside, get active and connect with other kids. Spirit North programming not only helps to instill healthy habits but empowers children with skills that will help them achieve their long-term goals.”

Thanks to Sun Life’s support, Spirit North will be able to be able to expand its programs to seven new communities across Canada over two years, benefiting 7,000 Indigenous children and youth. (See Sun Life Financial stock charts on TipRanks)

Last month, RBC Capital analyst Darko Mihelic maintained a Hold rating on Sun Life, and raised its price target to C$71. This implies 8.6% upside potential.

Overall, consensus is that SLF is a Hold, based on two Buys, one Hold, and one Sell. The average Sun Life price target of C$70.54 implies 7.9% upside potential to current levels.