FBR Research Maintains a 'Market Perform' on MetLife (MET); Raises PT
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FBR Research maintains a Market Perform on MetLife (NYSE: MET), price target from $36 to $41.
FBR analyst says, "Overall, we believe it was a neutral quarter (Q3), as the major credit, derivative, and DAC items came in as expected and the core result was good, but variable annuity sales came in lower than expected. With variable income showing some signs of improvement, and the $0.95 core result, earnings should be able to expand to $4.00 for FY10. However, the 8.7% ROE that level of EPS would potentially generate leaves shares adequately valued near book value. We maintain our Market Perform rating, but are raising our price target to $41/share, which is FY10E book value ex-AOCI, less our estimate of credit losses through the next five quarters."
To see more analyst ratings on MET Click Here.
MetLife, Inc., through its subsidiaries, provides individual insurance, employee benefits, and financial services in the United States, Latin America, Europe, and the Asia Pacific.
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