Piper Sandler Reiterates Overweight Rating on MetLife (MET) Following Investor Day

Piper Sandler analyst John Barnidge reiterated an Overweight rating and $92.00 price target on MetLife (NYSE: MET).

The analyst said: "The crux of MET’s new frontier strategy rolled out at investor day is the intention to 1) deliver 200 bps ROE expansion to 15% - 17% from ‘24 outlook guide of 13% - 15%, 2) 100 bps direct expense ratio reduction, and 3) ultimately this is intended to result in doubledigit adjust EPS growth through '29 (60% organic growth more weighted to top-line than margin/40% capital deployment). MetLife Investment Management is now getting its own operating segment in ’25, which we believe is multiple enhancing given the growth of this fee-based business. With the silver tsunami of the baby boomer generation arriving, this is going to lead to the aging of the U.S. population to ~38% 65+ in ’50 from 29% in ’22. Scale without a doubt matters but so does execution and that is why we positively view the targets laid out at investor day."

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 $83.22 yesterday.

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