Citi Maintains Buy on MetLife

Citi Investment Research is out with a research report on MetLife (NYSE: MET) and it has a Buy rating and a $42 price target on shares.

In a note to clients, Citi Investment Research writes, "Have reduced 2011E to $4.90 to reflect 3Q11 charges of $115M-$113M for adopting Social Security death master file and $40M guaranty fund assessment re 1991 insolvency of Executive Life. MET also expects $42M-$62M of elevated P/C storm losses, which is consistent with our current forecast."

Shares of MET are up $1.16 to $29.96, a gain of 4.03%.