Manulife Financial upgraded to Outperform from Sector Perform at National Bank

National Bank upgraded Manulife Financial to Outperform from Sector Perform with a price target of C$38, up from C$34, following the Q1 report. Asia drove the company’s growth this quarter, with earnings jumping 39% year-over-year, reflecting positive claims experience and credit provision reversals, the analyst tells investors in a research note. The firm increased estimates and upgraded the shares post the results.