S&P Capital IQ Reiterates its BUY Rating on Metlife, Target Price Raised

October 29 00:00 2011

New York, October 29 (RainbowNewsLine.com) – Analyst Cathy Seifert of S&P Capital IQ reiterates her BUY rating on the shares of Metlife (NYSE: MET), while reducing the estimate for the company. The target price has been raised from $38 to $42.

Analyst Cathy Seifert, in a research note published yesterday mentions that the company has reported mix results for Q3. The company’s 44% higher premiums were offset by nonrecurring charges and 21% more shares, the analyst says. The analyst is encouraged by Metlife’s overseas opportunities including acquisitions and organic growth which can be partly offset by the adverse impact of low interest rates on the company’s spreads-based businesses. The EPS estimate for 2011 has been reduced from $5.15 to $4.96.