UPDATE: UBS Starts MetLife (MET) at Buy; Now Only Truly Global Play with Recent Alico Acquisition
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Price: $96.80 --0%
Rating Summary:
18 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 6
Rating Summary:
18 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 6
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(Updated - July 18, 2012 11:35 AM EDT)
UBS initiates coverage on MetLife (NYSE: MET) with a Buy. PT $43.00.
Analyst, Suneet Kamath, said, "We believe investor concerns are largely around the timing and eventual size of capital return due to regulatory uncertainty. Although the lack of buyback is a near-term ROE drag, we argue that at 0.65x P/B and a current 11% ROE (and potentially to 12%+ longer-term), we find MET’s risk/reward compelling. Further, we argue MET’s long-term ROE guidance may prove conservative, providing a potential upside surprise."
"Due to the Alico acquisition, MET is the only truly global play in our coverage universe. We expect its exposure to fast growing and high return emerging markets, which MET expects to grow to 20%+ of earnings by 2016 from 14% now, should lift the company’s overall ROE outlook over time."
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 $30.84 yesterday.
UBS initiates coverage on MetLife (NYSE: MET) with a Buy. PT $43.00.
Analyst, Suneet Kamath, said, "We believe investor concerns are largely around the timing and eventual size of capital return due to regulatory uncertainty. Although the lack of buyback is a near-term ROE drag, we argue that at 0.65x P/B and a current 11% ROE (and potentially to 12%+ longer-term), we find MET’s risk/reward compelling. Further, we argue MET’s long-term ROE guidance may prove conservative, providing a potential upside surprise."
"Due to the Alico acquisition, MET is the only truly global play in our coverage universe. We expect its exposure to fast growing and high return emerging markets, which MET expects to grow to 20%+ of earnings by 2016 from 14% now, should lift the company’s overall ROE outlook over time."
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 $30.84 yesterday.
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