Barclays on U.S. Insurance/Life: We Favor MET Over PRU Ahead of Investor Days
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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 on U.S. Insurance/Life: We Favor MET Over PRU Ahead of Investor Days
Analyst, Jay Gelb, said, "MetLife (NYSE: MET) and Prudential Financial (NYSE: PRU) are hosting investor days in New York on May 23 and May 24, respectively. We prefer MET over PRU because MET offers a lower valuation as well as upside potential to earnings and ROE expectations from cost savings and share buybacks."
"MET (1-OW rated) appears well positioned to benefit from its diversified international platform as well as gains from its acquisition of Alico."
"PRU (2-EW rated) benefits from a strong global life insurance and asset management platform with half of earnings from outside the U.S (nearly all from Japan). However, PRU could face skepticism on its ability to achieve a 13%-14% ROE in 2013 (versus an annualized 1Q12 core operating ROE of 9.5%)."
Analyst, Jay Gelb, said, "MetLife (NYSE: MET) and Prudential Financial (NYSE: PRU) are hosting investor days in New York on May 23 and May 24, respectively. We prefer MET over PRU because MET offers a lower valuation as well as upside potential to earnings and ROE expectations from cost savings and share buybacks."
"MET (1-OW rated) appears well positioned to benefit from its diversified international platform as well as gains from its acquisition of Alico."
"PRU (2-EW rated) benefits from a strong global life insurance and asset management platform with half of earnings from outside the U.S (nearly all from Japan). However, PRU could face skepticism on its ability to achieve a 13%-14% ROE in 2013 (versus an annualized 1Q12 core operating ROE of 9.5%)."
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