Initiated Equal Weight X

MFC Manulife Financial

Barclays

Upgrades Sec Perform Outperform X

MFC Manulife Financial

National Bank Financial

Initiated Buy X

MFC Manulife Financial

Jefferies

Upgrades Sec Perform Outperform X

MFC Manulife Financial

RBC Capital Mkts

Initiated Neutral X

MFC Manulife Financial

Credit Suisse

Upgrades Sec Perform Sec Outperform X

MFC Manulife Financial

Scotiabank

Downgrades Buy Hold X

MFC Manulife Financial

Canaccord Genuity

Downgrades Outperform Mkt Perform X

MFC Manulife Financial

BMO Capital Markets

Resumed Overweight X

MFC Manulife Financial

Barclays

$36

Downgrades Neutral Sec Underperform X

MFC Manulife Financial

CIBC

Upgrades Eq Weight Overweight X

MFC Manulife Financial

Barclays

Downgrades Outperform Sec Perform X

MFC Manulife Financial

RBC Capital Mkts

Downgrades Sec Outperform Neutral X

MFC Manulife Financial

CIBC

Upgrades Hold Buy X

MFC Manulife Financial

TD Securities

MFC  Manulife Financial Corporation

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States. The Company's segments include Asia Division, Canadian Division, US Division, and the Corporate and Other. The Company operates as Manulife in Canada and Asia and primarily as John Hancock in the United States. The product and service offerings under its Asia, Canadian and US Divisions include Protection, Wealth and Asset Management, and Other Wealth. The Corporate and Other segment includes external asset management business, Property and Casualty (P&C) Reinsurance Business, and run-off reinsurance operations, including variable annuities, and accident and health.