Hi Shail,
We tend to avoid giving price targets, however if they are included on our Bull List then we are comfortable buying at these prices. In this instance, we think MFC provides excellent value and is on our Dividend Bull List. It is one of the cheapest insurers out there and one of the most reliable. The dividend is well covered and the company is much better positioned to ride out a prolonged economic downtrend that it had in the Financial crisis. The majority of insurers are much better positioned.
In terms of Telus, it is not on our 'Bull List' but one of our foundational stocks for 2020. This list is released at the beginning of each year, and Telus is one of those rare stocks that you can buy at any time. It has a strong dividend, and the longest dividend growth streak among the Big Three. At this point, Telus is neither undervalued, nor overvalued. To top it off, it is firmly in neutral territory from a technical perspective. I would expect the company to track the performance of the broader market over the short term.
I own both of these stocks, and if I didn't already have a full position would be comfortable adding today.
Mat