UPDATE: Wolfe Research Starts MetLife (MET) at Peerperform
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Wolfe Research analyst Michael Zaremski initiates coverage on MetLife (NYSE: MET) with a Peerperform rating and a price target of $70.00.
The analyst comments "We are initiating with a Peer Perform rating. Our FCF regression analysis implies that MET is fairly valued – the company scores near sector average levels on FCF conversion, growth, and volatility. MET has re-rated less than peers PRU and PFG since the beginning of the pandemic, which we think is attributable to PRU and PFG beginning to execute on business mix shifts."
Shares of MetLife closed at $66.46 yesterday.
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