Barclays Raises Manulife Financial Price Target to C$52, Cites Capital Strength
Barclays lifted Manulife Financial’s price target to C$52 from C$49 and kept an Equal Weight rating, highlighting strong capital position and cash flow offsetting spread compression and tech spending. In Q3 2025, Manulife posted a 16% year-over-year EPS rise, 18.1% core ROE and 29% Asia segment earnings growth.
1. Barclays Raises Outlook
Barclays increased Manulife Financial’s price target to C$52 from C$49 and maintained an Equal Weight rating. The firm cited robust capital strength, consistent cash flow generation and industry consolidation as offsets to spread compression and increased technology investments.
2. Q3 2025 Performance
In the third quarter of 2025, Manulife delivered a 16% year-over-year increase in earnings per share and achieved a core return on equity of 18.1%. Record core earnings in Asia drove a 29% jump, while Canada and Global Wealth & Asset Management segments also reached historic levels.
3. Challenges and Headwinds
Global Wealth & Asset Management experienced $6.2 billion in net outflows and the US insurance business saw a 20% drop in core earnings due to unfavorable claim trends. Manulife also anticipates a $25 million quarterly impact from new Mandatory Provident Fund regulations in Hong Kong.