MetLife (MET) PT Lowered to $82 at Piper Sandler

Piper Sandler analyst John Barnidge lowered the price target on MetLife (NYSE: MET) to $82.00 (from $85.00) while maintaining a Overweight rating.

The analyst commented, "Higher Group Benefits claims experience from a return to seasonably of dental and a few large claims elsewhere has been an industry theme this earnings season. MET’s earnings ex-this impact were in-line with our expectations illustrating the natural hedge of the company’s portfolio of businesses approach globally. We are maintaining our Overweight rating while our price target falls to $82 from $85 with our ‘25E multiple moving to 8.3x from 8.7x previously reflecting modestly lower peer group multiples."

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