Insurance Technology Industry News

TMCNet:  Upgrade Alert for Manulife Financial (MFC)

[January 14, 2013]

Upgrade Alert for Manulife Financial (MFC)

Jan 14, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Manulife Financial (NYSE:MFC) was upgraded from Neutral to Buy at UBS today. The stock closed yesterday at $14.40 on volume of 1.1 million shares, below average daily volume of 1.8 million. Manulife Financial Corporation provides financial protection products and investment management services to individuals, families, businesses, and groups. The Company conducts operations in Canada, the United States, and Japan, as well as reinsurance operations on a global basis. Manulife offers products such as annuities, pension products, life insurance, health insurance, and mutual funds.

Manulife Financial (NYSE:MFC) is currently priced 4.2% above its average consensus analyst price target of $13.80. Manulife Financial shares have support at the 50-day moving average (MA) of $13.04 and additional support at the 200-day MA of $12.04.

In the past 52 weeks, shares of Manulife Financial have traded between a low of $9.97 and a high of $14.64 and closed yesterday at $14.40, which is 44% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 1.55% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Manulife Financial on August 14th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.47. Since that recommendation, shares of Manulife Financial have risen 25.5%. We continue to monitor MFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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