UPDATE: Deutsche Bank Initiates MetLife at Hold on Interest Pressures, ROE Growth Visibility

Deutsche Bank initiated coverage on MetLife, Inc. MET with a Hold rating and a $38 price target. Deutsche Bank commented, "MetLife has one of the strongest brands among life insurers, as well as scale and a diverse platform, all of which have allowed it to protect its earnings despite a range of material headwinds. Offsetting these, in our view, are opaque and interest sensitive operations, a somewhat ambiguous 100-300 bps ROE improvement target set to be completed four years from now, a cost of capital that is higher than even the middle of the target range and a regulatory overhang." MetLife closed at $35.79 on Tuesday.