Goldman Sachs analyst Alex Scott downgraded MetLife to Neutral from Buy with a price target of $78, down from $80. The downgrade is driven by the view that life insurance faces a more challenging year in 2023 "as well as some company specific sensitivities to what the environment may present," Scott tells investors in a research note. The analyst sees MetLife having credit exposure to risk-based capital ratios that is above the peer average in a scenario that is similar to 2000-2002 credit losses. Additionally, the company’s real estate exposure and alternative investment portfolio are also both above average, says Scott.
Published first on TheFly
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