UPDATE: Citigroup Lowers PT to $39 on MetLife

Citigroup maintains its Buy rating on MetLife, Inc. (NYSE: MET) but lowers its price target to $39 per share as the stock was dropped from Top Picks Live.

Citigroup comments, “MET's shares remain attractive but we have lowered our target and trimmed our 2012E-13E EPS to $5.05, and $5.70, respectively. Our revised target is tied to our updated estimates which capture the decline in both equity markets and long-term interest rates that will pressure fees and spreads in addition to the impact of the ASU 2010-26 DAC accounting change.”

MET closed up 0.18 percent at $27.91 per share on Friday.