Deutsche Bank Starts MetLife (MET) at Hold

January 8, 2013 5:44 PM EST
Get Alerts MET Hot Sheet
Price: $53.55 -1.4%

Rating Summary:
    11 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Deutsche Bank initiates coverage on MetLife (NYSE: MET) with a Hold. PT $38.00.

The firm's operating EPS forecast estimates for FY12E-FY14E are $5.20, $5.25 and $5.65, respectively – modestly below consensus.

"We attribute the muted earnings growth to low interest rate environment, one-time expenses and continued investment in the business, as well as constrictions on share repurchases," the analyst comments.

Deutsche Bank sees a strong brand weighed down by "opaque and interest sensitive operations, a somewhat ambiguous 100-300 bps ROE improvement target set to be completed four years from now, a cost of capital that is higher than even the middle of the target range and a regulatory overhang."

The firm also said they are skeptical of the value of the bank deregistration option, which is why many investors have owned the name.

For an analyst ratings summary and ratings history on MetLife click here. For more ratings news on MetLife click here.

Shares of MetLife closed at $35.79 yesterday.

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