Evercore ISI Has In Line Rating on MetLife (MET)

MetLife Inc. (NYSE:MET) is one of the 13 Deep Value Stocks to Buy Right Now.

Evercore ISI analyst Thomas Gallagher, on February 11, slightly trimmed his target price on MetLife by 2.1% to $95 (from $97) but kept his In Line call on the stock. This target price update comes after the firm adjusted its forecasts following the release of the company’s 4th-quarter earnings on February 5. The Q4 results were headlined by an 18% YoY growth in adjusted earnings and 24% YoY growth in adjusted EPS.

Earnings growth was driven primarily by the retirement and income solutions segment, benefiting from higher investment margins (which the company attributed to higher private equity returns). The company’s smaller segments (specifically its Latin America and EMEA operations) also contributed to growth, driven by rapid volume growth and improved underwriting margins. Finally, the group benefits segment (the company’s largest) also contributed solid growth (albeit not as fast as the other segments).

MetLife’s Asia operations, meanwhile, lagged due to a contraction in underwriting margins. This contraction just about offset the gains coming from volume growth and expense margin improvements.

MetLife Inc. (NYSE:MET) provides insurance and financial services to individual and institutional clients in the United States, Latin America, EMEA, and Japan. The company is based in New York, New York, and was founded in March 1868.

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