UPDATE: Morgan Stanley Cuts PT to $42 on MetLife Following Guidance

Morgan Stanley reiterated its Overweight rating on MetLife

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.