Citi Reiterates a 'Buy' on MetLife (MET), Returns Stock to Top Picks Live List
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Citi reiterates a 'Buy' on MetLife Inc (NYSE: MET), adds stock to Top Picks Live list.
Citi analyst says, "MET remains our #1 idea - With life insurer valuations looking to have stabilized following a more than 40% drop in less than a month, we have returned MET to Top Picks Live...Within a market where high quality and earnings stability command a premium, we believe the company is poised to establish itself as the benchmark global insurance stock...M&A a potential catalyst - Augmented by the Oct/08 $2.2B tactical capital raise, MET appears well positioned to both organically capture market share from weakened competitors such as Lincoln (NYSE: LNC), Genworth (NYSE: GNW), AEGON (NYSE: AEG) and Hartford (NYSE: HIG) as well as undertake transformational M&A including the potential purchase of AIG's domestic life insurance and retirement services operations."
MetLife, Inc. (MetLife) is a provider of insurance and other financial services with operations throughout the United States, and the regions of Latin America, Europe and Asia Pacific.
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