Sun Life Earnings Quality Not Seen as Strong -- Market Talk

1232 ET - TD Cowen drops its bullish stance on Sun Life Financial in the wake of what analyst Mario Mendonca says was weaker-than-expected earnings quality in 3Q and a rapid deterioration for the MFS business. Sun Life met TD's expectations overall, though with a weaker U.S. result offset by better results in Canada and in asset management. Mendonca says reported quarterly earnings were 32% lower than the underlying result, reflecting acquisition charges and high market-related charged. TD's call is dropped to hold from buy and the price target cut to C$115 from C$123. It also lowers EPS forecasts for 2027 and 2028. Sun Life slides 8% at C$105.42. (robb.stewart@wsj.com)

(END) Dow Jones Newswires

November 05, 2026 12:32 ET (17:32 GMT)