Q: Now that MFC had derisked its US business especially its underformed Legacy sector,and had broken out of long term Resistance at the $26-27 level,is it timely to buy? Please U advices.Txs for U usual great services & advices
5i Research Answer:
With a 4.9% dividend and valuation at 8X earnings, we think MFC is 'buyable' for income and some growth. Recent company moves are positive for its outlook. In the sector we would still prefer IFC and SLF, but we are warming up more to MFC these days.