MetLife Restarted as “Overweight” at Barclays (MET)

Filed in barclays, dividend, Gold Investing, o, shares by on November 15, 2010 0 Comments

Insurance giant MetLife, Inc. ( MET ) on Monday saw its coverage re-initiated with an “Overweight” rating by analysts at Barclays Capital. The firm also set a $52 price target on MET shares, which implies a 31% upside to the stock’s Friday closing price of $39.64. A Barclays analyst commented, “We are reinstating our OW rating on MetLife after suspending the rating last March due to Barclays Capital’s role. Barclays Capital acted as a financial advisor to MetLife on the acquisition of American Life Insurance Company (ALICO). We are also initiating a 2011 EPS estimate of $4.98 on Met…Our investment thesis on Met remains unchanged. For investors concerned about continued economic weakness, we believe Met offers the most diverse, and therefore the most stable, lineup of insurance businesses among large-cap life insurers.” MetLife shares were mostly flat in premarket trading Monday. The Bottom Line Shares of Metlife ( MET ) have a 1.87% dividend yield, based on Friday’s closing stock price of $39.64. The stock has technical support in the $36-$37 price area. If the shares can firm up, we see overhead resistance around the $43-$44 price levels. MetLife, Inc. ( MET ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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MetLife Restarted as “Overweight” at Barclays (MET)

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