RBC Capital Markets raised its price target on Manulife Financial Corp. (MFC.TO, MFC) to $52 from $49.

Analyst Darko Mihelic maintained an Outperform rating on shares of the Canadian financial services company following its quarterly results.

"MFC's Q3/25 core EPS was above our estimate and consensus, as results were better than expected in all segments except for the US (unfavourable mortality)," Mihelic said in a note to clients.

"As part of the refreshed enterprise strategy, MFC expects $1 Billion+ in enterprise AI value by 2027 and announced a 50:50 partnership with Mahindra & Mahindra Ltd. (M&M) to offer life insurance products in India (a move we like)," the analyst said.

"On balance we are incrementally more positive on earnings power though our 2027 estimate is shy of MFC's core ROE target of 18%+."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)