Barclays Maintains an 'Overweight' on MetLife (MET); Share Buybacks and Strategic Review Offer Potential Upside to EPS, ROE Outlook
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Price: $94.34 +0.94%
Rating Summary:
18 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
18 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on MetLife (NYSE: MET) price target of $40.00.
Barclays analyst says, "MET's 2012 outlook appears conservative assuming no share buybacks and 5% S&P 500 growth. Also, MET is undergoing a full strategic review in 2012 that could result in scaling back or exiting business with low ROE profiles-we suspect units impacted the most by low U.S. interest rates could be optimized. The VA sales outlook of $18bn in 2012 is down 35% y/y and is mostly consistent with our view."
"No change to our 2012 EPS estimate of $5.10 (in line with MET's guidance of
$4.80-$5.20) resulting in a 10% operating ROE and providing a decent baseline for results. Separately, we are lowering our FY11 estimate to $4.87 from $5.05 to reflect one-time items in 4Q11. MET expects 4Q11 operating EPS is expected to be in the range of $1.16-$1.26, with normalized EPS of $1.22-$1.32."
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 $32.92 yesterday.
Barclays analyst says, "MET's 2012 outlook appears conservative assuming no share buybacks and 5% S&P 500 growth. Also, MET is undergoing a full strategic review in 2012 that could result in scaling back or exiting business with low ROE profiles-we suspect units impacted the most by low U.S. interest rates could be optimized. The VA sales outlook of $18bn in 2012 is down 35% y/y and is mostly consistent with our view."
"No change to our 2012 EPS estimate of $5.10 (in line with MET's guidance of
$4.80-$5.20) resulting in a 10% operating ROE and providing a decent baseline for results. Separately, we are lowering our FY11 estimate to $4.87 from $5.05 to reflect one-time items in 4Q11. MET expects 4Q11 operating EPS is expected to be in the range of $1.16-$1.26, with normalized EPS of $1.22-$1.32."
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 $32.92 yesterday.
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