UPDATE: Morgan Stanley Cuts PT to $42 on MetLife Following Guidance
Morgan Stanley reiterated its Overweight rating on MetLife (NYSE: MET) but lowered its price target from $44 to $42.
Morgan Stanley noted, "MetLife's guidance was modestly disappointing, with both EPS and capital expectations running somewhat below our expectations. That said, their guidance is typically conservative (they typically hit at least the high end), and even with lowered numbers, the valuation multiple on stock is very low."
MetLife closed at $33.61 on Wednesday.
Latest Ratings for MET
|Oct 2016||Credit Suisse||Initiates Coverage on||Neutral|
|Jul 2016||Deutsche Bank||Downgrades||Buy||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.