Sun Life Finance (SLF), one of the largest life insurance companies in the world, donates $ 800,000 to McGill University to help Montreal’s hardest hit diabetes population. This includes indigenous communities, people who are homeless or at risk of becoming homeless.
The funds are used to support the Ingram School of Nursing (ISoN) and to set up a network of five clinics. The clinics will be located in different neighborhoods of Montreal, in collaboration with local partner organizations working with these risk groups. These new clinics will help reduce the impact of the pandemic on their health and wellbeing.
Sun Life President Jacques Goulet said, “Diabetes is one of the fastest growing diseases in the world. Sun Life is committed to preventing the disease while helping people with diabetes and prediabetes live healthier lives. With a longstanding focus on community health and wellness, we believe everyone deserves access to support for their wellbeing. We are excited to work with ISoN to deliver these important programs. Montreal is a city where we live and work. Supporting the needs of vulnerable populations in Montreal is key to a healthy and sustainable future for Canada. “
The diabetes crisis affects more than 463 million people worldwide. As of 2012, Sun Life has allocated more than $ 38 million Canadian dollars to the prevention, care, and awareness of diabetes. (See Sun Life Financial stock chart on TipRanks)
Two months ago, BMO Capital analyst Tom Mackinnon retained Sun Life’s buy rating and set a price target of USD 75.00 (CAD 92.45). This implies 47% upside potential.
Mackinnon said on a conference call, “When I look at the impact of new business in Asia it was slightly negative, but when I look at it compared to the fourth quarter, it’s a big improvement despite the fact that sales were in the first Quarter of this year even lower than in the fourth quarter. “
The rest of the road is bullish on the SLF with a consensus rating for Strong Buy based on 6 buys and 2 holds. The average target price of the Sun Life analysts of 74.86 CAD implies an upside potential of 19% to the current level.
The story goes on
Smart Score from TipRanks
SLF scores 7 out of 10 on TipRanks’ Smart Score rating system, which indicates that the stock’s returns are likely to be in line with the overall market.
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