Sun Life Q1 2008 Earnings

RBC Capital Markets, 6 May 2008Q1/08 EPS were short of our expectations by 8% and were down 4% on a core basis versus Q1/07. The weakness was mostly driven by the difficult macro environment, namely the high Canadian dollar, deteriorating credit quality and weak equity markets.We have lowered our 2008E EPS from $4.30 to $4.10, our 2009E EPS from $4.80 to $4.60 and our 12-month target price from