S&P Capital IQ Maintains BUY Rating on MetLife

October 14 00:00 2011

NEW YORK, October 14 (RainbowNewsLine.com) – Analyst Cathy Seifert of S&P Capital IQ maintains her BUY rating on the shares of MetLife Inc (NYSE: MET). The target price is set to $38.

Analyst Cathy Seifert, in a research note published yesterday mentions that the company plans to strip its mortgage operations by selling its MetLife Bank N.A unit as previously announced. The analyst believes it to be a strategic step amidst regulatory uncertainties. Without being the subject of regulatory burden by divesting from its bank holding will enable the company to focus more on its core global life insurance and employee benefits market, the analyst says. Considering the execution risk of the strategy, the analyst views the stock as undervalued hence reiterating its target price and keeping its 2012 EPS at $5.95.