FBR Capital Downgrades MetLife (MET) to Market Perform
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FBR Capital downgraded MetLife (NYSE: MET) from Outperform to Market Perform while maintaining a price target of $54.00.
Analyst Randy Binner commented, "Our analysis shows MET shares efficiently discounting spread, tax, and deregulation factors post election, which we model as benefiting the stock price by $7/share. Thus, the risk/reward has become much less attractive. At the same time, the upcoming spin catalyst and associated buyback are now better priced into shares. MET is trading at 100% of its five-year min/max P/E valuation."
Shares of MetLife closed at $55.45 yesterday.
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